The well-intentioned rule is having unexpected consequences. The Rockets cannot outbid the Knicks, but because they are under the cap, they are permitted to give Lin a balloon payment — a so-called poison pill — in the third year of his deal. Houston originally set that figure at $9.3 million and then increased it to $14.98 million, close to the maximum allowed.
For cap purposes, Lin’s three-year salary would count as an average for Houston, or $8.4 million a year. But the Knicks would be charged the full amount in 2014-15, costing them $50 million to $60 million in a combination of salary and luxury taxes, rival executives said.
"To be honest, I always prided myself on being a Knick. I remember all of those rivalries and heated skirmishes (with the Heat) we had back in the day so I couldn't see myself being a part of that team," Camby said in an interview Tuesday with the internet radio show Hard2Guard.
"Especially coming back here … into the Garden. I didn't want to be a villain. So this is a great situation for me."
Undrafted guard Chris Smith will play for the New York Knicks' summer league team, according to source.
The union appeal on the "early Bird rights" of Jeremy Lin and Steve Novak will be heard June 13, a league source said.
The Knicks did not disclose terms of their deal with Mike Woodson, but sources told ESPNNewYork.com's Stephen A. Smith that Woodson's contract includes two guaranteed years and a third-year option, worth approximately $4 million per season.
Knicks will open playoffs Saturday, regardless of opponent, according to just-released NBA schedule.
After drilling a jumper in a shooting contest at #Knicks shootaround, Bill Walker, "Game blouses." Great Chapelle Show reference.
Toney Douglas' son, Toney Jr., was born yesterday.