Report: Knicks will waive Joakim Noah before regular-season roster needs to be set
The Knicks had been pursuing a trade early in the offseason, but they were faced with a relatively dry market for Noah’s services after a poor display during his last two seasons with New York, which were riddled with injuries, inconsistencies, and a slower-footed approach to his once-lauded defensive intensity.
The Knicks have been shopping Noah but are declining to attach valuable assets to shed the two years and $38 million remaining on his contract. By waiting this long, the Knicks have been hoping against odds that an injury or something else creates a stronger trade market.
The front office has been knocking on doors, but getting similar responses upon shopping Noah, as most teams want some sort of compensation for taking on his bloated contract that will pay him nearly $20 million per year to be a fringe player at best.
The duo of Steve Mills and Scott Perry has refused to attach any assets (young players or future draft picks) in exchange for unloading Noah, which ultimately shuts off any chance they have of moving him via trade.
The Knicks could still save nearly $13 million in cap space for next summer’s free agency by using the waive-and-stretch provision, paying out the remaining $38 million over the next five years (paying him $7.6 million instead of $19.3 million owed to him in 2019-20).
This could prove important considering the hefty plans of adding another max-level star next summer to pair with Kristaps Porzingis and rookie Kevin Knox.