Report we all expected: J.R. Smith to test free agency

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Strike when the iron is hot. It’s not just advice for blacksmiths; it applies to NBA free agency as well.

The iron is never going to be hotter for J.R. Smith, the freshly minted NBA Sixth Man of the Year. He averaged 18.9 points per game and was one of the key reasons the Knicks are considered a threat in the playoffs.

The man wants to get paid, and his option with the Knicks for next season will pay him a below market $2.9 million. So as expected he will test free agency, reports Chris Sheridan at SheridanHoops.com.

Smith has a player option for next season, and a source close to Smith tells SheridanHoops.com that it is “very, very likely” that he will opt out of his contract and become an unrestricted free agent this summer.

If you’re thinking the Knicks will just pay whatever to re-sign him, welcome to the world of the new NBA CBA.

The Knicks are over the tax apron but have the “early Bird” rights to re-sign Smith, which means how much they can offer is limited. Sheridan explains it well.

An incumbent team (the Knicks in this case) can re-sign an early Bird free agent for the greater of either: (A) 175 percent of his salary under the terms of his immediately expired agreement, or (B) 104.5 percent of whatever the league’s average player salary is for the first year of the new deal….

Because Smith would be an early Bird free agent if he opts out this summer, under the first calculation, the Knicks can offer him a starting salary of $4.9 million by using the 175 percent rule….

But for all intents and purposes, we can safely assume that the average player salary will end up being around $5.34 million. Under the second calculation, the Knicks could give Smith a starting salary of $5.58 million.

What that means is the most the Knicks can offer is four years, $24.8 million (after raises). A team under the salary cap — say the Dallas Mavericks or Houston Rockets or a number of others — can come in over the top and offer more.

Not that any of them will, and it’s not to say Smith wants to jump ship. He likes New York. But the possibility is there and it’s tough to walk away from money on the table.

Jason Williams out 6-8 months after injury in Big3 debut

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NEW YORK (AP) — Former NBA point guard Jason Williams will miss six to eight months after suffering a knee injury in the opening game of the Big3.

Corey Maggette, also injured in the opening week of Ice Cube’s 3-on-3 league of former NBA players, had surgery for a leg injury. There is no timetable for his return.

The injuries were announced Wednesday during a conference call with Cube and Big3 co-founder Jeff Kwatinetz, who also detailed a couple rules changes starting with this weekend’s game in Charlotte, North Carolina.

Games will be played to 50 points, instead of 60, with halftime coming when the first team reaches 25 points. Cube said that would help the four games per day move more quickly.

Report: Mutual interest between Knicks, Jeff Teague with Phil Jackson gone

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Phil Jackson’s exit is already opening doors for the Knicks.

No position differs more in the triangle from modern spread NBA offenses than point guard. But without Jackson demanding his point guard fit such a narrow profile, New York can pursue greater talents – like Jeff Teague.

Ian Begley of ESPN:

With Phil Jackson out and the triangle de-emphasized, the Knicks, under general manager Steve Mills, have interest in free agent point guard Jeff Teague, league sources told ESPN. League sources say the interest in Teague is mutual.

The Knicks aren’t as desperate at point guard after drafting Frank Ntilikina, but Ntilikina probably isn’t ready to run an offense full-time yet. Teague could be a stopgap – which might be necessary considering New York can’t easily pivot into rebuilding with Carmelo Anthony, Joakim Noah and Courtney Lee locked up.

Teague’s future with the Pacers appears uncertain with Paul George on the trade block. A key part of Larry Bird’s retooling last summer, Teague and Indiana might be headed in different directions now.

The Knicks make as much sense as anywhere for Teague – now that Jackson is gone.

PBT Extra: Rockets, with Chris Paul trade, show fearlessness in face of Warriors’ dominance

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The Rockets and Clippers both turned aggressive with today’s Chris Paul trade.

Houston is making a bold attempt to overtake the Warriors (a plan that could include other big moves). The Clippers are launching into rebuilding.

Kurt Helin breaks down what it means for both teams.

PBT Extra: With Phil Jackson discarded, Knicks face next challenge

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The Knicks did well to part ways with Phil Jackson, but where does New York go from here?

Masai Ujiri? David Griffin? Someone else?

Kurt Helin breaks down Jim Dolan’s options – and the approach the Knicks owner should take.