Cap Space

The Joakim Noah deal isn’t unique to Phil Jackson’s reign of terror over the franchise. The Knicks have a history of bad contracts.

Allan Houston (6 years, $100 million) in 2001, the Stephon Marbury trade in 2004, Jerome James (5 years, $30 million) and Eddy Curry (6 years, $56 million) in 2005, and Amar’e Stoudemire (5 years, $100 million) in 2010. The Houston signing was so historically bad it became the brainchild behind the NBA’s current amnesty rule.

According to Yahoo Sports, after the Knicks rescind their free agent cap holds this summer they should have roughly $25-$26 million of cap room to spend. That’s enough to sign one max player for next season.

Ian Begley of ESPN reported that the Knicks would target point guard Jrue Holiday in free agency. It’s going to take a max contract to pry him away from the New Orleans Pelicans.

New York will target the big name free agents like Chris Paul, Blake Griffin, and Kyle Lowry too.