James Dolan wasn’t kidding when he said he didn’t want to go into the second apron.
Four days after the Knicks won their first NBA title in 53 years, Dolan went on WFAN for the second time in as many weeks and started to plateau expectations for keeping his championship-winning team together.
“We cannot go into the second apron,” the team owner said June 17. “We’re willing to stretch, but there’s certain things in the NBA that you’d have to be suicidal to do. One of them is the second apron.”
Friday could be the first indicator of how much the Knicks plan to spend this summer. The team pushed reserve guard Jose Alvarado’s deadline for his $4.5 million player option from Monday to Friday, according to The Athletic, to allow the Knicks to go through the draft before adding more money to next season’s payroll.
The Knicks won the NBA Finals with a payroll of roughly $207 million this past season, which was the second highest in the league. Going into the second apron limits the transactions the Knicks can make and the free agents they could sign, but it will be a bigger issue if it becomes a multiyear stay instead of a one-year blip.
The Knicks completely punted in this week’s NBA draft, trading the No. 24 and 31 picks in a series of transactions that ultimately netted five future second-round picks and cash. Had New York used the No. 24 pick, it would have counted roughly $3.3 million toward its cap sheet. The Knicks selected two players in the second round, both of whom could be signed to minimum second-round deals or two-way contracts.
On Thursday, the New York Post reported it was unlikely the team would retain Mitchell Robinson, its longest-tenured player, who is an unrestricted free agent and perhaps the best backup center in the NBA. Robinson just finished the final year of a four-year, $60 million contract that started at $17 million annually and finished at roughly $13 million.
League sources confirmed the Post’s report to Front Office Sports, and cited Robinson’s extensive injury history and free throw issues as reasons to avoid going into the second apron to give Robinson another raise. Third-string center Ariel Hukporti presents a younger (24) and cheaper ($1.9 million salary) option to replace Robinson internally. But the Knicks have Robinson’s full Bird rights, allowing them to go over the cap to re-sign him, which isn’t the case with their other free agents.
Going into the second apron could be a harder case for a team lacking postseason success. But the Knicks are the defending champions and risk losing their depth if they don’t. Landry Shamet was one of the NBA’s best players who was making the veteran minimum this season, at just $3 million. The Knicks could double his salary with the taxpayer’s exception, but they could lose him if his market goes above that.
New York’s bench was a significant part of its playoff run, receiving contributions from other veteran minimum players such as Jordan Clarkson and Miles McBride. Clarkson is another free agent, while McBride is another high-value contract, making less than $4 million next season before becoming a free agent the following summer. Leon Rose’s front office has historically been slow to extend its players, with McBride being the latest example.
Even if Alvarado declines his player option, it’s hard to see the Knicks retaining Shamet and Robinson while maintaining Dolan’s wishes. The Knicks currently have a team salary of $203.4 million in salary. The second apron is projected at $222 million, giving the team roughly $16 million to fill out the roster if Alvarado opts in. It’s unrealistic for both Robinson and Shamet to take significant discounts.
To Dolan’s credit, he has a front office known for its ability to work its cap situation in its favor. Brock Aller, the Knicks’ cap strategist, has a reputation for finding ways to create cap space when there appears to be none. But this might be his toughest task yet.
Dolan has poured millions of dollars into the organization over the years for mostly mediocre results. Now that he finally has the championship that eluded the franchise for more than half a century, he’s faced with watching the team break apart.
