Report: Knicks still plan to part with Noah using stretch provision

The New York Knicks remain intent on releasing center Joakim Noah before training camp, sources told ESPN's Adrian Wojnarowski and Ian Begley.

If the Knicks can't find a trade suitor for Noah, they will use the waive-and-stretch provision on the 33-year-old.

Provided Noah is waived after Sept. 1, the contract can be spread into smaller cap hits per the stretch provision. Noah is owed roughly $37.8 million over the final two years of his contract ($18.5 million in 2018-19, $19.3 million in 2019-20).

Per the provision, New York would create $12.9 million in cap space for the 2019-20 season but would sacrifice $6.43 million in cap space for the following two seasons. Noah would be paid his regular salary of $18.53 million for the upcoming 2018-19 season, with all of it counting against the cap, and would receive three installments of $6.43 million payments over the course of the 2019-20 to 2021-22 seasons.