The New York Knicks crashed out of their first Eastern Conference Finals in more than 25 years at the hands of the Indiana Pacers, who were far better than the Knicks. The Knicks front office has a tremendous task ahead of them in this offseason, as many teams start exploring the NBA Free Agency.

As one of the biggest-market teams in all of sports, the Knicks have always had deep pockets, and they have been using them. With as-near-as-is $200 million already committed to their 2025-26 salary cap, they are bristling right up against the second apron.

Despite their game six loss against the Pacers, many Knicks fans still believe in this team, and they think that “so close” is far better than “never.” They believe that the core of the team should remain the same, and new additions should only complement the current roster.

Knicks offseason preview: big market, big decisions

The Knicks front office will be crunching the numbers this offseason as financial complications loom over their heads. What the organization needs right now is to add depth on the bench and focus on identifying role players that can help the starters get more rest and perhaps elevate them to a higher level in pursuit of a title.

According to Spotrac, the New York Knicks have a projected cap hit of $230.5 million for the 2025-26 season with 11 players rostered, leaving them $75.8 million over the projected salary cap. They are approximately $43 million over the luxury tax, $35 million over the first apron, and $23 million over the second apron. These numbers are currently estimates, as the league has yet to officially finalize the concrete cap numbers for 2025-26.

New York Knicks center Karl-Anthony Towns (32) and guards Jalen Brunson (11) and Miles McBride (2) watch from the bench during the fourth quarter against the Oklahoma City Thunder at Madison Square Garden.
Mandatory Credit: Brad Penner-Imagn Images

The Knicks have a significant salary commitment to players like Jalen Brunson, Karl-Anthony Towns, OG Anunoby, and Mikal Bridges. Meanwhile, players such as Precious Achiuwa, Delon Wright, Cam Payne, and Landry Shamet are set to become unrestricted free agents. Decisions are pending on team options for veterans like P.J. Tucker and Ariel Hukporti.

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Knicks 2025 free agency: 3 smart targets

Tyus Jones – Phoenix Suns

Tyus Jones is a good and safe point guard with a good assist-to-turnover ratio. Meanwhile, the Knicks can acquire him for a cheap contract, which provides them flexibility with the tax implications. Jones is also a good ball handler and can provide some rest to Jalen Brunson when needed. Regardless, an effective, solid backup floor general thanks to passing and shooting ability off the dribble.

Russell Westbrook – Denver Nuggets

If Russell Westbrook joins the New York Knicks, they will get stronger both offensively and defensively. He made somewhere around  $5,631,296 in Denver and can be a cheap alternative to several other high-salary free agents. Westbrook has his woes and can struggle defensively at times, and his discipline on the court is also questionable.

Luke Kornet – Boston Celtics

Bouncy finisher around the basket with good length. Can finish with dunks and is a very solid rim protector on the defensive end. In the regular season, he averaged 6.0 points per game, 5.3 rebounds per game, and 1.0 blocks per game. His last contract with the Celtics made him somewhere around $2,800,834.

All these free agents are a cheap option for the Knicks to consider and can bolster their roster. However, there are some more options in the free agency markets, but the Knicks are currently facing financial complications in the front office, where the need to avoid a tax penalty is the top priority right now.