Knicks owner James Dolan is frustrated the lockout rages on and the club’s season opener tomorrow against the Heat at the Garden has been wiped out. But Dolan, part of the owners’ negotiating committee, is content about one of the agreed-upon aspects of a new collective bargaining agreement: the size of the salary cap will not go down.
More than any team in the NBA, that will benefit Dolan’s big-market Knicks the most, ironically.
According to multiple sources, one of the resolved issues in a new CBA is the 2011 salary cap will remain at the level as it was in 2010 — $58 million.
“That’s what we’ve been discussing, though the exact dollar amount is not set until the new deal is done,’’ said one league source, who added no new talks have yet been scheduled.
Economic projections from sources say the salary cap will then grow to about $60-$61 million in 2012, when the Knicks will have the largest cap space in the league and have room to woo either Chris Paul, Deron Williams or Dwight Howard, who are slated to become free agents. The Knicks could be at least $20 million under the projected 2012 cap.
Ironically, Dolan has been seated across from Paul, who is the Knicks’ top priority, during many of the labor bargaining sessions because Paul is on the union’s negotiation committee.
According to a players source, Dolan has been the least combative of the owners and often serves as a mediator during contentious moments.
“He’s tried to keep the parties on point,’’ the source said. “He’s trying to make a deal, seeing a positive spin. He’s been, in a word, productive.’’
Early in the negotiations, the owners’ proposals had the cap set back to $45 million, which would have killed former Knicks president Donnie Walsh’s master plan of adding a third superstar to Amar’e Stoudemire and Carmelo Anthony in 2012.
Walsh is a consultant now, but his big defense for gutting the team for Anthony was that the blockbuster trade preserved the Knicks’ 2012 cap flexiblity.
The new CBA (whenever it’s agreed upon) will also clear more cap space for the Knicks in 2012 because of the agreed-upon amnesty clause.
Knicks interim general manager Glen Grunwald is expected to use the clause on Nuggets throw-in Renaldo Balkman, whom he once drafted. Balkman is to make $1.7M in 2012 and is not in Knicks coach Mike D’Antoni’s plans.
When Balkman, a former first-round pick in the Isiah Thomas Era, is sliced, his $1.7M salary won’t count toward the cap under the new provision.
Without Balkman taking up 2012 cap room, the Knicks may have only three players under a guaranteed contract after this season: Anthony ($19.4M ), Stoudemire (19.9), rookie Iman Shumpert (projected $1.4M).
Toney Douglas has a team option for $2.06M and may not be re-signed if Shumpert excels. If the Knicks don’t exercise the Douglas option, they could be at $40.3M entering that summer — possibly $20-$21M million in cap space.
Yahoo! has reported the NBA and players are talking about bringing federal mediator George Cohen back to talks this week. … Union president Derek Fisher sent a letter to the players yesterday, denying a report he has a rift with union director Billy Hunter.