Ian Begley: Phil Jackson said that there are ways in which the Knicks can free up more cap space to sign players. He’s likely referring to trading a player on the roster to a team that can absorb his salary into cap space. This would free up some more money for New York and my guess is that the Knicks may have to use this mechanism to sign Courtney Lee. They’ve offered Lee a four-year deal that’s north of $10 million annually, according to sources. Lee has other offers, which are likely more lucrative, and he is considering them.
Members of the organization – including Joakim Noah – would love to have Lee in New York, sources say.