Knicks waive Ricky Ledo

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The Knicks made a low-cost bet on Ricky Ledo.

It hasn’t paid off.

Ledo would have received a $100,000 guarantee if not waived by tomorrow, making dropping him an easy call. He just hasn’t done enough in the NBA, D-League or summer league to justify that large of a payout.

The Knicks now have 14 players, though Darion Atkins and Wesley Saunders will likely get waived and assigned to New York’s D-League affiliate. The Knicks still have the room exception $2,814,000, and the minimum-salary exception will likely land someone more valuable than Ledo on this contract.

Heck, if he goes unclaimed on the waiver wire – which he probably will – the Knicks could even re-sign Ledo without giving him the guarantee. I wouldn’t count on that, though. This experiment seems over.