Report: Knicks to decline Shane Larkin’s third-year option

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The Knicks planned to exercise Shane Larkin’s 2015-16 team option.

Then they planned to decline it.

All the information is in. Larkin’s 2015-16 salary would be $1,675,320. He’s started both games for New York this season, averaging 7.5 points, 4.0 assists and 3.0 steals.

Phil Jackson can’t waiver any longer. It’s decision day.

Marc Berman of the New York Post:

I think this is a mistake, though a minor one.

The Knicks are obviously banking on free agency next summer to upgrade their roster, and declining Larkin’s option ensures an extra $1,150,227 in cap room. (A minimum-salary cap hold would replace him if New York renounces him.)

But it seems likely Larkin, who spent his rookie year struggling in Dallas, will progress to the point the Knicks can dump him without a sweetener if necessary. He might even turn out to be worth keeping.

Instead, Larkin will be an unrestricted free agent next summer, and New York will have a little extra cap room to entice free agents.