For the second time in two weeks, the Knicks have signed Reggie Bullock to a two-year contract.
Initially signed to a two-year, $21 million deal at the dawn of free agency, some issues came up with Bullock’s medicals during his physical that made both sides reconsider that lofty salary number. The Knicks of course went on to sign Marcus Morris away from a previous commitment to the Spurs on a one-year, $15 million deal with the cap space previously promised to Bullock, with a reworked Bullock deal promised on the horizon.
Well, we’ve now reached the horizon, and Bullock is coming to the Knicks on a two-year deal worth less than the $4.7 million room exception:
Reggie Bullock has signed a 2-year deal with the Knicks for less than the $4.7 million exception. His agent, David Bauman, says the “Knicks were fantastic through this process.”— Ian Begley (@IanBegley) July 16, 2019
Reggie Bullock has signed an agreement with Knicks for two years with a team option for second year, per source. The reworked deal has him taking less than the $4.8M room exception.— Marc Berman (@NYPost_Berman) July 16, 2019
So, first off, depending on what Bullock’s mystery health issue is, this could be a total steal for the Knicks. Bullock averaged 11.3 points per game last season on almost 38 percent from three, and he’s averaged over 40 percent from range over the last four seasons combined. If he puts up similar production this year and outplays his contract, the Knicks could either look to move him as a very valuable 3-and-D piece to a contender at the deadline, or have him locked into a value contract for the 2020-21 season.
Secondly, it’s great to see the Knicks having such a graceful and amicable resolution to what was a pretty awkward situation. Of course, plenty of mouth-breathers took their shots when it was first announced that the Knicks and Bullock were reworking the deal, but it seems that Scott Perry and Steve Mills are still batting 1.000 in the “being well-liked around the NBA (other than the snake that will not be named)” department. Bullock himself certainly seems excited:
Done Deal!— Reggie Bullock (@ReggieBullock35) July 16, 2019
Importantly, the Knicks saved a little extra cap room by signing Bullock to less than the full room exception, which could afford them some wiggle room to move a guy like Kadeem Allen up from his two-way deal (like they did with Allonzo Trier last season).
Bullock’s minimum salary is $2.03M, so he must have signed for at least that amount. Knicks could be leaving just enough space within their room exception to later sign a young player above the minimum (such as Allen or Wooten) if a roster spot eventually opens up https://t.co/GR7nhklOBV— Knicks Film School (@NYKFilmSchool) July 16, 2019
So here we are! The Knicks’ 15-man roster (and both two-way spots) are now full. Light up the “no vacancy” sign at MSG. Now, we wait for training camp.