Ramon Sessions has 10 years of service and will earn $131,562 on his 10-Day Contract in Washington. Sessions is still earning $2.3M from his contract with the Knicks. The Wizards will have a $83,129 cap hit on Sessions and $147K in additional luxury tax penalties. Washington saved $2.4M in tax penalties at the trade deadline when Shelvin Mack and cash ($687,389) were sent to Atlanta. The Wizards current tax bill is $6.7M.
14 hours ago via ESPN
Regarding the extension, it’s unclear how Kristaps Porzingis’ injury impacts the timing of the Knicks’ offer. Prior to the ACL tear, the Knicks likely felt comfortable offering Porzingis the extension this summer. Now, they might follow the blueprint the Philadelphia 76ers established with Joel Embiid and construct a contract that is incentivized based on health. It’s also unclear if the bad blood between the organization and Porzingis from the summer of 2017 is still a factor at this point, but the Knicks are optimistic that all parties have moved forward and are on the same page. Porzingis has said that he’ll address his feelings on the extension at the appropriate time but wants to remain in New York. The Knicks still see Porzingis as a franchise cornerstone, despite the injury.
17 hours ago via ESPN
The Knicks can also create cap space over the next two summers by stretching Joakim Noah’s contract. Doing so would reduce his cap hit to $7,565,000 over the next five years, beginning in 2018-19 and ending in 2022-23. But that would eat into money that the Knicks could spend on other free agents in the summer of 2020 and beyond. It’s not something the Knicks have seriously considered at this point, per sources.
17 hours ago via ESPN
Storyline: Joakim Noah Buyout?
Jeff Hornacek’s contract is up after the 2018-19 season, and Perry has said that he and Mills will evaluate Hornacek — and all other aspects of the organization — after the season. Hornacek was hired by former Knicks president Phil Jackson, so it certainly wouldn’t be a surprise if Hornacek is let go by the club’s new management after this season. […] Some players have privately grumbled about Hornacek’s rotations, according to sources familiar with the matter, but Hornacek was given the freedom to run his own offense and was handed an imbalanced roster and tasked with trying to fight for a playoff spot while developing young players.
17 hours ago via ESPN
At 23-36, the Knicks have the ninth-lowest win percentage in the league. Assuming they finish in that spot — they could very well drop further, given Porzingis’ absence — it would guarantee New York a pick no lower than 12th in the 2018 NBA draft. Perry has said that New York will be prepared for any and all scenarios as the draft approaches. To that end, New York, like most other teams, has already sent personnel to scout top point guard prospect Luka Doncic, according to sources. Some in the organization are also high on Michigan State forward Miles Bridges and Villanova wing Mikal Bridges, sources say.
17 hours ago via ESPN