After waiving Joakim Noah on Saturday, the New York Knicks will use the stretch provision on the remaining year of his contract to clear cap space in an effort to pursue top free agents in the summer of 2019, league sources told ESPN.
Using the stretch provision reduces Noah’s cap hit of $19.3 million in 2019-20 to $6.4 million, saving the team $12.9 million toward the salary cap. Stretching his contract, though, will cost the Knicks $6.4 million in cap space in the summers of 2020 and 2021.
The Knicks plan to pursue top free agents in the summer of 2019, a class that includes Golden State forward Kevin Durant, Toronto forward Kawhi Leonard, Boston point guard Kyrie Irving and Minnesota guard/forward Jimmy Butler.
Irving, however, said earlier this month that he plans to re-sign with the Celtics.
With the Noah contract stretched, New York is closer to having enough cap space for a max player.
If the Knicks, as expected, do not give
Article source: http://www.espn.com/nba/story/_/id/24973763/new-york-knicks-waive-joakim-noah
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