The New York Knicks project to have approximately $19 million in cap space for the summer of 2016. That’s a significant amount of money, but not enough to sign a 2016 free agent to a maximum contract. Here’s a breakdown of the Knicks’ finances for the summer of 2016 after their recent free-agent signings: Four Knicks are signed to guaranteed contracts for 2016-17. That number will increase to six when rookies Kristaps Porzingis and Jerian Grant sign their deals. The money owed to those players in 2016 totals to $55.3 million. Both Derrick Williams and Arron Afflalo have player options for the 2016-17 season. If Williams and Afflalo exercise their options, worth $4.6 million and $8 million respectively, the Knicks will have $67.9 million in committed salary for 2016-7. Under the scenario described above, the Knicks would be four players shy of the league-minimum of 12 required on a roster. So four roster charges (approximately $540,000 each) would be applied to their salary cap for a total of approximately $2,160,000. The roster charges increase the Knicks’ committed salary for 2015-16 to approximately $70.1 million. The cap for 2015-16 is projected at $89 million. That would leave the Knicks with about $18.9 million in cap space to use in the summer of 2016. - See more at: http://espn.go.com/blog/new-york-knicks/post/_/id/62721/62721
