Kristaps Porzingis is set to hit restricted fee agency next summer after failing to reach a contract extension with the New York Knicks before the 6 p.m. ET deadline on Monday. It’s not a surprising move, though, as it was what many observers had expected long before the deadline.
By not agreeing with Porzingis to an extension deal, the Knicks have more flexibility to go after other high-profile players who are also about to dip themselves in free-agency waters in 2019. General manager Scott Perry noted this:
GM Scott Perry Perry today acknowledged decision to not sign Porzingis to contract extension now (leaving him to go to RFA this summer) was motivated by "financial flexibility" that "is created by that." Said both sides understood the math. #Knicks
— Alan Hahn (@alanhahn) October 16, 2018
When asked about the risk of letting Porzingis hit free agency, Perry merely doubled down on his stance that the way the Knicks are handling things with regards to the big man's contract is what’s best for the future of the franchise:
Scott Perry on if it's a risk letting Porzingis become free agent:
"I’m not going to get into predicting anything about the future. I would just reiterate that I think as a group and we have a shared goal of making the Knicks a very good basketball team going into the long term.”— Stefan Bondy (@SBondyNYDN) October 16, 2018
The Knicks will save at least $10 million in cap space by not extending Porzingis now, and they always have the option of matching any offer sheet the big Latvian may sign next summer. While there could be concerns that Porzingis is unhappy about not getting a new deal locked in now, he seems to be okay with the decision.
The former first-round pick is still in the process of rehabilitating and recovering from a knee surgery he went through earlier this year. It remains hazy when Porzingis will be able to return to action, but Perry said it will be when “he is both mentally and physically ready to play.”
The Knicks open their season against the Atlanta Hawks on Wednesday.
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