According to reports, the New York Knicks have come to a mutual agreement with Kemba Walker to have him sit out the remainder of the season. This experiment clearly did not work for both parties and they have now decided to cut their losses.

With still a couple of months remaining in the regular season, however, there have been rumors of a potential buyout for Walker. Several other teams have apparently shown interest in adding the former All-Star to their lineup as they look to give Kemba a fresh start. ESPN's senior NBA insider Adrian Wojnarowski, however, has quickly doused some ice-cold water on that prospect:

“There are a number of teams who would love to have Kemba Walker in a buyout,” Woj said on Thursday's episode of NBA Today. “That's not gonna happen. He's not interested in that with New York.”

I can think of a handful of teams that could use a guy like Kemba Walker on their roster. He's a far cry from the superstar he once was, but his mere veteran presence would be a key asset for a team with title aspirations this term. Moreover, the 31-year-old proved in his brief hot streak with the Knicks earlier this season that he still has a lot of gas left in the tank and he is still capable of the occasional scoring outburst.

Be that as it may, it appears that Walker will be ending the season with the Knicks. For their part, New York seems to now be looking at the prospect of using him as a trade asset this summer. Aside from what Kemba might bring to the table in the basketball sense, he's also going to be on an expiring deal, which makes him a very valuable asset for any team that is able to acquire him.

“There's a very good chance he's played his final game for the Knicks,” Woj continued. “They'll get to the offseason and with a year left on his deal, see if there's a trade scenario that might work for the Knicks and Kemba Walker.”

Woj then went on to provide a preview of the Knicks' mindset this summer in terms of potentially trading away Kemba Walker. Woj noted that New York has very minimal cap space available, which will make things much more difficult for them. Nevertheless, the Knicks intend to squeeze as much value out of Walker once the trade season comes:

“They would be in the market for franchise-type players who became available in trades,” Woj said. “… Is there a big player who can become available in trade talks? Is there a player who asked out of another situation?

“… The Knicks really have to take inventory on how much of their assets, their young players, what are they worth in the marketplace? But the goal here was not to kinda be a middling team to be fighting for a play-in. It was to go get high-level players. That will be the objective this offseason. It's another thing to be able to execute it.”

Woj once again hit the nail on the head here. The Knicks seem to have a proper plan in place and on paper, it sounds excellent. Getting this done is an altogether different matter, though. Needless to say, the front office will have their work cut out for them.