Already, the Knicks looked likely to be able to create cap space for the summer of 2019, when
Enes Kanter's contract will be up (Kanter has an $18.6 million player option for 2018-19 that he seems likely to exercise) and
Lance Thomas' $7.6 million salary is non-guaranteed. By 2019,
Joakim Noah also will be entering the final season of his exorbitant contract, which should be easier to trade at that point. Alternatively, New York could waive Noah and stretch his remaining salary, reducing his cap hit from $19.3 million to $6.4 million.
One more way the Knicks could create 2019 cap space would be trading shooting guard
Courtney Lee for a player with two years remaining on his contract.
I've suggested previously that Lee is a good sell-high candidatebecause he's making a career-best 42 percent of his 3-pointers. If New York isn't going to win next season, that's all the more reason to trade Lee now, because he'll become less desirable to other teams as he ages and his salary increases.
The other question the Knicks face is what to do with Porzingis himself, since he's eligible for a contract extension this coming fall. Though neither LaVine nor Parker agreed to extensions with their teams while rehabbing, Porzingis' superior track record of success and role as the face of the franchise suggests he probably will get a max extension from New York.
Alas, Porzingis' injury will make it difficult and probably impossible for him to make an All-NBA team (or win Defensive Player of the Year) next season and qualify to start his extension at 30 percent of the salary cap rather than the usual 25 percent for players with his experience.