00:00More news starting to take shape around the Knicks offseason.
00:03We talked about this early in the week with Jose Alvarado pushing back his date to either pick up or
00:10decline his option.
00:11He declined his option today, and now news has come out that he has agreed to a three-year, $14
00:18-plus million deal.
00:19We do not know exactly the amount of money, though.
00:22Chris Haynes has reported that it is a three-year, $15 million deal.
00:26Now, you don't know what the annual average value is.
00:29That would be five, but exactly how the money breaks down, Jose Alvarado could have about $4.5, $4.6
00:36million,
00:36which is pretty much the same as if he had picked up his option in the first year,
00:40and then you can definitely adjust how those numbers would be over the last two years of the deal.
00:45So he gets a multi-year deal.
00:47This is a good deal for the Knicks.
00:48They bring back a guy who was a key part of their championship run, who they traded for at the
00:53trade deadline,
00:54a good backup point guard, someone who's extremely solid with the basketball,
00:59can be a pest on defense, showed that he could play in big moments.
01:02New Yorkers will never forget what he was able to do in Game 4 and how instrumental he was in
01:07that comeback victory in Game 4 against the Spurs.
01:10He opts out and then re-signs for multiple years, which is about around the same salary that he would
01:17have had had he picked up his option.
01:18So it's a win for him.
01:20He gets some security.
01:21He gets a couple more years in the back end, and Knicks get to keep him at that same number.
01:25So that contract could start at about $4.5 million.
01:28It could be less.
01:30It could be a little bit more.
01:32It'll be interesting to see how all those numbers shake out.
01:35But here's the thing.
01:37We know the second apron number, and that's the big talk with the Knicks right now, is at about $222
01:43million.
01:43That's the projection for the second apron for next season.
01:46Knicks right now still roughly about $9.8 million under the second apron, and they still have three or four
01:54roster spots to fill.
01:55So when you look at that, it doesn't look likely, assuming they do not want to go over the second
02:02apron, and that's been all the talk after James Dolan's comments.
02:06They're still $9.8 million under the second apron, and still have about three to four roster spots to fill.
02:13So it makes it not likely that Landry Shammott and or Mitchell Robinson will return.
02:19There's still a world, and they could still go over the second apron.
02:22Nothing is set in stone, but it will be interesting to see how that all plays out.
02:27Either way, Knicks fans should be ecstatic.
02:29They're welcoming back Jose Alvarado.
02:31Now, key piece, the window to fit Mitch or Landry under the second apron is really narrow.
02:37Those guys would have to take a lot less money than what they probably could get on the open market.
02:42But if you're just looking at this as, look, the Knicks needed another ball handler.
02:46They need a backup guard to Jalen Brunson, who they traded for and gave up some assets for.
02:50Not a lot at the trade deadline.
02:52A guy who's a key part of this team.
02:53This is a good move.
02:55It's a good deal for both sides.
02:56Great deal for Jose.
02:57Great deal for the Knicks as well.
02:59But in the coming days, that number that I talk about, Knicks sitting around that $9.8 million under the
03:05second apron, what are they going to do?
03:07How is that going to impact what they might do in free agency?
03:09Still three to four roster spots to fill.
03:11Is there a trade that could be made?
03:13There still are some options for the Knicks.
03:15It'll be interesting to see, although everything we hear is they, meaning really the owner, not necessarily the front office
03:22from all the reports, doesn't want to exceed the second apron.
03:26It's going to be telling.
03:28I think it's been telling from the moves, actions over words.
03:30We're seeing some of the actions, the way the Knicks operated the draft, and now getting the steal done with
03:35Jose Alvarado will be really telling.
03:37So we will know in the next couple of days, especially how they approach free agency, if any news comes
03:43out around Mitchell Robinson or Landry Shamit, if they intend to stay with the Knicks and at what number, that
03:50will be very interesting.
03:51It would be lovely to have both those guys back, but it's looking really, really difficult for the Knicks with
03:56$9.8 million of room to spend with both those guys.
04:01And as I said, three to four roster spots to fill.
04:03It's going to be really tough.
04:05But Jose Alvarado, New Yorker, gets to stay at home, knows how to play in the city, knows how to
04:12handle the pressure, loves playing at home.
04:15He's going to be ecstatic to be back here and playing with New York on his chest, on the jersey.
04:21And so the Knicks get their back of point guard here in the fold as we approach the start of
04:28free agency, which will be on Tuesday at 6 p.m.
04:31So good business for the Knicks.
04:33Really intriguing to see what they do with the rest of free agency.
04:36Let me know what you think in the comments.
04:37Was this a good move for the Knicks?
04:39Are you still concerned about what they can do staying under the second apron?
04:43Should they exceed the second apron?
04:44A lot of talk around that from the fan base.
04:46But we'll see more of what they do, and we'll have you covered on all of that here on New
04:50York Got Game.
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