After agreeing to terms with Joakim Noah and Courtney Lee, the New York Knicks are trying to create more cap space by trading one of its players, ESPN's Ian Begley reports.
The Knicks have approximately $8.5 million in cap space after the two signings, according to Begley. He writes:
Noah agreed to a four-year, $72 million deal, while Lee agreed to a four-year, $48 million contract. Carmelo Anthony will earn $24.5 million next season, Kristaps Porzingis $4.3 million and Derrick Rose $21.3 million, according to Basketball-Reference.
Phil Jackson alluded to this during his media availability Saturday afternoon. The Knicks want to maximize their potential and address as many existent voids as they can this summer.
Just as there's plenty of room for improvement, there are just as many opportunities for New York to go about accomplishing their goals sooner than later. The signings of Noah and Lee take up much of the coveted cap space the Knicks began with, and rightfully so.
A plethora of quality role players are still available. (Seth Curry is one particular option the team should consider.) In assessing what went right and wrong last season, and who may still hold value to the future, it makes sense that the Knicks should be especially open to parting with Kyle O'Quinn. There are roster upgrades to be found, and ridding themselves of his contract would get New York that much closer to becoming a deeper squad.