Report: Knicks trying to move Calderon and Bargnani, but not Stoudemire
It turns out New York Knicks president Phil Jackson wasn't just paying lip service to the rebuilding process this weekend when he addressed the team's move into a bit of a tear-down mode for the rest of the season.
"No one should be surprised with what we do from here on out," Jackson said Saturday. "We're gonna be active, open and selective."
That appears to be the case, as the Knicks are back in the rumor mill just a week after sending out J.R. Smith and Iman Shumpert in what amounted to basically a flexibility-building move.
It's just too bad Bryan Colangelo isn't still a general manager in the league, as the team is now looking to move Jose Calderon and Andrea Bargnani. They aren't looking to move Amar'e Stoudemire, according to a report from Marc Stein and Ian Begley of ESPN, but the European veterans are being shopped aggressively.
Both former Toronto Raptors have contracts large enough that moving one would get the Knicks below the luxury tax line, which they're currently an estimated $3.3 million over. Getting below that line not only saves the team money this year and adds revenue from tax-paying teams, but it would also help them avoid the far more restrictive repeater tax in future seasons.
Calderon, who has been in trade rumors for a few weeks, is said to be a popular player around the NBA. A steady offensive hand who is among the league's best shooters and rarely turns the ball over, he would be an upgrade as a backup point guard for most teams despite his defensive shortcomings.
The issue with the Spanish ham farmer is he has two years remaining on his contract beyond this season, and he'll earn $7.7 million in 2016-17. Most teams seem to be angling for cap space in the summer of 2016, when the cap is expected to rise significantly and several marquee players will be free agents. If the Knicks are going to move Calderon, the reality is they may not get anything back but future cap relief.
The market for Bargnani should be even thinner. Playing with an $11.5-million salary that expires after this season, it would be tough for most teams to absorb his deal right now without cap and tax ramifications. He's also injured, and hasn't been particularly productive when able to play over the past few seasons, which hasn't been often.
New York could conceivably pay an under-cap team like the Philadelphia 76ers to take on Bargnani's salary, getting the Knicks below the tax, but it would be at a cost. Otherwise, Bargnani is a candidate to be waived after the trade deadline, according to Stein and Begley.
At 5-35, the Knicks are dead last in the NBA and prudently turning their focus to the future. With names like Jahlil Okafor representing enticing lottery payouts and Carmelo Anthony fighting through a knee injury, the rest of the season could be quite ugly in Gotham.