The Knicks planned to exercise Shane Larkin’s team option for 2015-16, according to Adrian Wojnarowski of Yahoo Sports.
Apparently, they never made the move official.
I’m not sure what changed in the last 10 days. Waiving Travis Outlaw doesn’t affect New York’s 2015 cap space.
I think the Knicks should exercise the Larkin’s third-year option, though it’s a close call. New York is obviously wary of cutting at all into its 2015 cap room, because Larkin’s salary – $1,675,320 – isn’t much, and if he’s cleared from the roster, a $525,093 roster charge would replace him.
I think it’s more likely than not the 22-year-old Larkin rebounds from an underwhelming rookie year with the Mavericks to the point the Knicks could give him away without a sweetener next summer if necessary. But that’s hardly a given, and there is definitely logic to declining the option and ensuring New York maximizes its cap space.
Given their market, the Knicks have a different strategy than most teams in balancing developing youth and acquiring veteran free agents. It’s an equation that nudges the needle a little closer to declining Larkin’s option.