The Knicks waived Elfrid Payton to make room for… Elfrid Payton.
New York once again struck out on top free agents.
But at least the Knicks are again not mucking up long-term flexibility, so far agreeing to sign Payton and Alec Burks to only one-year deals.
Adrian Wojnarowski of ESPN:
Free agent Alec Burks has agreed to a one-year, $6M deal with the New York Knicks, agent Alex Saratsis tells @ZachLowe_NBA and me.
— Adrian Wojnarowski (@wojespn) November 21, 2020
Elfrid Payton has agreed to one-year, $5M deal with Knicks, agents Aaron Mintz and Ty Sullivan of @CAA_Basketball tell ESPN.
— Adrian Wojnarowski (@wojespn) November 21, 2020
Payton will actually get a double paycheck from the Knicks next season. His previous contract was $1 million guaranteed.
If his new deal is actually for $4,767,000 or less (and just rounded up in reporting), New York could fit him into the room exception and preserve cap space.
But what would the Knicks do with that cap space?
