The New York Knicks and the Philadelphia 76ers reportedly will complete a deal involving Amar'e Stoudemire before the February trade deadline. Dealing Stoudemire would create cap space for New York and allows Philadelphia to hit the cap minimum without tying up their future.
Knicks president Phil Jackson inherited a club with virtually no financial flexibility until next summer. The lack of salary cap space tied up Jackson's hands for most of free agency, but that could now change.
Steve Kyler of BasketballInsiders.com reported Philadelphia, in an effort to reach the salary cap minimum before the trade deadline, would likely trade for the expiring contract of Stoudemire at some point during the season.
"What's far more likely is that the long rumored Amar'e Stoudemire to Philadelphia deal gets done at the deadline," Kyler wrote Tuesday. "The Sixers take on Stoudemire's $23 million salary cap number, which pushes them away over the minimum. They would only owe him roughly 30 percent of his remaining contract, so they'd end up paying him $7 million in cash and likely extract a draft pick or a rookie scale player for their troubles."
Taking on Stoudemire's contract meets the league-mandated minimum spent in salary while letting the Sixers retain financial flexibility for next summer.
Free agency is essentially over, but the freed-up salary cap space would give New York options in any potential sign-and-trades. After failing to acquire Minnesota Timberwolves star Kevin Love, Jackson may set his sights on Boston Celtics Star Rajon Rondo, although the Knicks are lacking in viable assets to entice Boston into dealing the All-Star.
Another purported target, albeit for next summer, is Memphis Grizzlies center Marc Gasol.
Jackson reportedly is also still trying to move J.R. Smith, Iman Shumpert and Andrea Bargnani.
