At anytime between now and September 1 of next year, the Knicks could use the stretch provision and waive Joakim Noah, creating extra cap space the next two years, according to Marc Berman of NY Post.
Noah has been eligible to return from his suspension for two games but has remained inactive amid the Knicks' logjam in the frontcourt that has kept Wily Hernangomez primarily on the bench behind Enes Kanter and Kyle O'Quinn. After this season, Noah has two years and $37.5 million years left on the contract Phil Jackson signed him to just two summers ago.
According to Berman, the Knicks are in no rush to make that decision. There are no added cap incentives in cutting Noah now rather than after the season. If the Knicks were to use the stretch provision on Noah, the team would free up $11 million in cap space this summer and $12 million next summer. He'd remain on the cap for the Knicks until 2022 though, at $7.5 million per year.
Last season, Noah averaged just five points and 8.8 rebounds per game in a season where he was limited to 46 games due to injuries.