HoopsHype.com Rumors

Jared Zwerling: The player is also supposed to give their consent before the trade can occur, which is a part of the gray area here in regards to Novak. Twitter

New York Knicks, Free Agency, Trade, Steve Novak 

Spoke to someone involved in arbitration case and very confident Lin and Novak will have their early Bird rights by July 1 - appeal or no appeal. This victory really means most on Novak front. They can re-sign him now. But whether they can do that much damage with mid-level exception depends on whether they are going to spend just $3M of it or the whole $5M, which would give them a hard cap. In truth, if they don't re-sign Fields, then they can probably use all of it. Sulia

New York Knicks, Free Agency, Steve Novak 

Arbitrator Kenneth Dam today affirmed the National Basketball Players Association’s position that players claimed off waivers retain their valuable “Bird” and “Early Bird” rights when they become free agents. As a result of the arbitrator’s decision, Jeremy Lin and Steve Novak of the New York Knicks will enter the 2012-13 free agency period with “Early Bird” rights, and Chauncey Billups of the Los Angeles Clippers and J.J. Hickson of the Portland Trailblazers will enter the 2012-13 free agency period with full “Bird” rights. Future players claimed off waivers will likewise benefit from today’s ruling. NBPA.org

New York Knicks, Free Agency, Chauncey Billups, Jeremy Lin, Steve Novak 

The ruling means that both Lin and Steve Novak of the Knicks will be able to re-sign with the team without respect to the salary cap, for a starting salary around $5 million each. Just as critically, it means that the Knicks will not need to use their midlevel exception to sign either player, which will allow them to use that slot for another free agent. New York Times

New York Knicks, Free Agency, Jeremy Lin, Steve Novak 

Kidd, promoting a celebrity golf tournament on the call, talked about Lin and the possibility of mentoring him on the Knicks. Before the Knicks consider any potential free agents, they await word on the Bird rights case involving Lin and Steve Novak. A victory for the union would mean the Knicks would not have to use their $5 million mid-level exception to sign Lin or Novak, and put them in the position to add a prominent free agent. New York Post

Dallas Mavericks, New York Knicks, Free Agency, Jason Kidd, Jeremy Lin, Steve Novak 

The Knicks and Jeremy Lin continue to await the outcome of the hearing regarding his and Steve Novak’s “Early Bird Rights” for next season. But Lin won something today. NBA TV announced that Lin is the recipient of NBA TV’s first-ever “Social Breakout Player of the Year” Award for his increase in popularity with fans across Twitter and Facebook this season. Newsday

New York Knicks, Jeremy Lin, Steve Novak 

The case potentially affects four players: Lin and Steve Novak of the Knicks, J.J. Hickson of the Portland Trail Blazers and Chauncey Billups of the Los Angeles Clippers. Novak attended the hearing Wednesday in Manhattan. New York Times

New York Knicks, Free Agency, Jeremy Lin, Steve Novak 

The union official told us while the general belief is that the union's chances at success in this argument are slim, he emerged from the hearing modestly optimistic. "I went from feeling like we had a 30 percent chance to now at least 50 percent," the person said. This is indeed a rare case, as generally most players claimed on waivers do not have the kind of value that would promote market competition as free agents. Novak and Lin both had breakout seasons after the Knicks claimed each off waivers in December. Novak became the NBA's leading three-point shooter and a key contributor off the bench for the Knicks, while Lin only turned into an international sensation and an incredible box office draw. MSG.com

New York Knicks, Free Agency, Jeremy Lin, Steve Novak 

Al Iannazzone: The Lin-Novak hearing is over, a source said. A decision is expected soon, as david stern said yesterday. Not expecting it today. Twitter

New York Knicks, David Stern, Jeremy Lin, Steve Novak 

Jeffrey Kessler, one of the union’s bulldog negotiators during the lockout, has been added to the team to fight for Jeremy Lin and Steve Novak’s Bird rights in today’s arbitration showdown with NBA lawyers, according to a source. New York Post

New York Knicks, Free Agency, David Stern, Jeremy Lin, Steve Novak, Jeffrey Kessler 

Anthony is waiting to see who he will be playing with next season. Knicks management must make decisions regarding many of the team’s potential free agents, including Jeremy Lin, Steve Novak and Landry Fields. “We have to build some consistency up here in New York,” Anthony said. “Over the past 10 years there’s been no consistency. It’s been one team in and one team out. We are just getting started. I don’t want to see those guys leave. New York Daily News

New York Knicks, Free Agency, Carmelo Anthony, Landry Fields, Jeremy Lin, Steve Novak 

The Knicks hope the players union wins next Wednesday's appeal to get Lin and Steve Novak "Early Bird Rights," which would allow them to re-sign both players without using any of their exceptions. The outcome should be known by the time Smith decides what to do. "I want to be here so I'm not really putting too much emphasis on it," he said. "I got money now. It's all about winning, and whatever is the best situation and the best fit really. "If all things are equal, I'm staying." Newsday

New York Knicks, Free Agency, Jeremy Lin, Steve Novak, J.R. Smith 

Brian Mahoney: The way Stern shrugged off the question about the Lin/Novak Bird Rights case with a joke should ready Knicks fans that it's probably a loss. Twitter @briancmahoney

New York Knicks, Free Agency, Jeremy Lin, Steve Novak 

Al Iannazzone: The union appeal on the "early Bird rights" of Jeremy Lin and Steve Novak will be heard June 13, a league source said. Twitter

New York Knicks, Free Agency, Jeremy Lin, Steve Novak 

Jeremy Lin's future with the #Knicks (as well as Steve Novak's) will be decided by an arbitrator, who will hear arguments from the NBA and the NBPA over the transfer of Bird Rights, in about two weeks. Sounds like Knicks plan to keep Lin regardless of the results: “We can keep him if we want him," Knicks GM Glen Grunwald said on Friday, "and we do want to keep him. I believe that Jeremy had a great experience here, and I believe he wants to come back. So that’s where that is.” Sulia

New York Knicks, Free Agency, Jeremy Lin, Steve Novak, Glen Grunwald 

But free-agent sharpshooter Steve Novak probably is a goner unless the union wins its mid-June arbitration hearing to restore Novak’s — and Lin’s — Bird rights. “J.R. has an option to come back to us next season,’’ Grunwald said. “We hope he will exercise it. Steve is a free agent. We want to have him back, too. But Stevie has the greatest freedom of any of the players as he is unrestricted.’’ New York Post

New York Knicks, Free Agency, Steve Novak 

Steve Novak: Congrats to @Jeremy Lin on hopefully getting the Trademark on "LINSANITY" It shouldn't belong to anyone else! Twitter

New York Knicks, Law, Jeremy Lin, Steve Novak 

Jared Zwerling: Grunwald says he "would love to have" Steve Novak back and he hopes that J.R. Smith will exercise his option. #Knicks Twitter

New York Knicks, Free Agency, JR Smith, Steve Novak 

Jared Zwerling: Steve Novak was at the Knicks' training facility today, same with Allan Houston. #Knicks Twitter

New York Knicks, Allan Houston, Steve Novak 

At issue is whether a player obtained off waivers can retain his Bird rights with the team that acquired him. The Knicks picked up both Jeremy Lin and Steve Novak off waivers. ESPN.com

New York Knicks, Jeremy Lin, Steve Novak