3 Former Knicks players that secured new contracts in free agency

1: Derrick Rose

As expected, the Knicks declined Derrick Rose’s $15.6 million team option for 2023-24, paving the way for him to become an unrestricted free agent. The Bucks, Suns, and Bulls were identified as three possible landing spots for Rose, but it was assumed that if he didn’t get a large enough offer, he’d return to New York on a lesser contract.

The chances of that happening quickly dropped to zero when SNY’s Ian Begley reported that Rose had agreed to sign a multi-year deal with the Grizzlies.

Shams Charania added that it was a fully guaranteed, two-year $6.5 million deal. And even better for Rose, he’ll have the chance to play big minutes to start the season as Ja Morant is suspended for the first 25 games of 2023-24.

From Memphis’ perspective, Rose is a veteran that can mentor Morant, who has had issues with staying out of trouble. The Grizzlies traded Morant’s previous backup Tyus Jones to the Wizards in a three-team deal that sent Marcus Smart, another valuable veteran, to Memphis.

If Rose would’ve stayed in New York, there’s no way that he would’ve been a contributor on a nightly basis playing behind Jalen Brunson, Immanuel Quickley, and Deuce McBride. The Knicks hold Rose in high regard but were unable to offer him a roster spot.

Rose will be back in Memphis where he spent the 2007-08 season playing for the Memphis Tigers before being drafted No. 1 overall in 2008. It isn’t Chicago, but he still has ties to the city. The void that he’s left behind in New York will be felt off the court, but not on it.

9 Players the New York Knicks gave up on way too soon

The New York Knicks gave up on these nine players way too soon, chasing win-now options and living to regret it in every case.