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The New York Knicks’ meteoric rise was completed through an organic rebuild. It took four or five years, and it involved a new head coach and team president. It also involved draft picks, trades, and free-agent signings. While trades are more likely to impact the Knicks’ trajectory than signing other teams’ free agents this off-season, losing their own free agents can badly impede their recent progress. Looked at differently, re-signing free agents is akin to car or home maintenance. It might not make for noticeable change, but it is absolutely necessary. And with that in mind, let’s discuss which free agents the Knicks must re-sign before the 2024-25 season.
Before we get into players, let’s address the Knicks’ salary cap situation. The Knicks have about $150 million in salary obligations, with about $27 million being non-guaranteed deals. For reference, the 2024-25 cap is projected for $141 million. In terms of punitive cap implications, New York is about $21 million below the luxury tax, $28 million below the first apron threshold, and about $39 million below the second apron threshold.
Thankfully, Bird Rights will help the Knicks in their quest to re-sign their own free agents, as it allows teams to exceed the salary cap to retain their own free agents. So, there is more flexibility in signing their own free agents, for the most part.
One final point: Jalen Brunson and Julius Randle are both technically eligible to sign extensions this offseason. Those extensions would not impact the 2024-25 cap. And neither player is mentioned below because both are under team control for next season.
Will the Knicks pay OG Anunoby?
Re-signing OG Anunoby looks like a no-brainer. The Knicks were a +21.7 with Anunoby on the floor, and a -4.7 without him. Including the playoffs, the Knicks were 26-5 when Anunoby played at least five minutes. The hold-up in re-signing Anunoby will not be a desire to keep him. It would be around dollars and cents. Anunoby will command a long-term deal that pays him at least $35 million annually, according to SNY’s Ian Begley. Are the Knicks willing to pay that?
Fortunately, the Knicks own Anunoby’s bird rights. So, they can match any offer he receives. Recently, there was speculation that Anunoby could explore other offers. However, it has also been reported that both Anunoby’s camp and the Knicks expect to agree on a deal.
Ultimately, the Knicks can offer as much as anyone for Anunoby’s services. There is little reason to believe he signs elsewhere.
Does the Knicks’ maximum offer for Isaiah Hartenstein cut it?
Unfortunately, the Knicks do not own Hartenstein’s Full Bird Rights. They own his Early Bird Rights. Because he signed a two-year deal, the Knicks can only offer the seven-footer a maximum of 175% of his previous salary, or roughly $16.2 million next season. And they are incredibly likely to do so.
The free agent market is an ever-changing thing, though. Specifically, the market for centers is limited in terms of how many talented big men are available. Hartenstein demonstrated what he can do in 2023-24, averaging 8.7 points, 9.4 rebounds, and 3.1 assists per game as a starter. And an unrestricted free agent, if there is mutual interest between Hartenstein and a team, he can play wherever he pleases.
Fortunately, Hartenstein expressed his preference to remain in New York in early April; but he left the door open, too.
“I’m focused on what I’m doing right now. I know I’ve put myself in a great position to get a little upgrade,” Hartenstein told Hoops Hype. “Right now, I’m focused on the Knicks. I love it here, and hopefully, we’ll figure something out, but at the end of the day, business is business.”
We’ll see if Hartenstein’s desire to remain. Knick is trumped by a bigger offer from a competing team.
Is there room for Precious Achiuwa?
While New York only owns Hartenstein’s Early Bird Rights, they possess Achiuwa’s Full Bird Rights. And he is a restricted free agent. So, if the Knicks want to keep Achiuwa, he’ll remain in New York. But what’s his role?
If the Knicks re-sign Hartenstein, that means they enter camp with two (presumably healthy) starting-caliber centers. But there’s still a possible need. First, Mitchell Robinson is obviously injury-prone. Robinson missed 51 games in 2023-24. And he only played in 67 or more games once in his six-year career. So, keeping Achiuwa is desirable from that standpoint.
The other aspect of the Achiuwa saga is a little more complicated. To start, who rounds out their wing rotation? There is Randle, Josh Hart, and OG Anunoby. But is that enough? Bojan Bogdanovic is clearly serviceable. But do the Knicks plan on keeping him or using him in a trade? If it’s the latter, what position are they looking to upgrade via trade? If it’s not a forward, then there is definitely a role for Achiuwa. And that doesn’t even begin to consider the possibility of a Randle trade, but more on that in the near future.
And then cost plays a role, too. Achiuwa looked like a legitimate player after being traded to the Knicks. So, if a team offers him $10 million per year, is that too rich for the Knicks’ blood? While they can match any offer, do they do it? Because there are longer term, salary cap implications that go along with every deal.
The Knicks are in great shape to bring back most (if not all) of their own free agents. We’ll see if they do so. But there are a lot of moving parts regarding the roster. The upcoming offseason should be one of the more exciting ones for New York. So, buckle up and enjoy the ride, Knicks fans.
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