J.R. Smith has until June 26, two days before the NBA Draft, to give the Knicks notice on opting out of the final year of his contract worth $2.5 million, according to an NBA source.
If he doesn’t exercise the opt-out clause, Smith will be a Knick next season and could get a long-term deal with the club after next season. Because Steve Novak is a good bet to depart, the Knicks want Smith back as a sixth man — and possibly to play some point guard despite his wretched shotmaking in the Knicks’ five-game first-round knockout by the Heat.
Smith shot 3-of-15 in the elimination game and was 31.6 percent for the series — 17 percent from 3-point land (5-of-28).
Knicks general manager Glen Grunwald is hopeful Smith doesn’t exercise the opt-out and a source said he is leaning toward staying put with the marketplace squeezed for the middle class of free agents in the new CBA.
“Without a doubt, hands down, I wouldn’t want to play anywhere else,’’ Smith said on Trash-Bag Day Thursday. “It’s the greatest place to play. It’s the greatest city in the world. This is my ultimate home.’’
Smith said he will sit down with his Creative Artists Agency agent Leon Rose and Grunwald, who said on the day he signed Smith he hoped the explosive guard would be here for the long term. Knicks director of personnel Mark Warkentien, who had Smith in Denver, pushed strongly for the Smith signing in February.
Warkentien is represented by CAA. as is Smith and Anthony. Now Mike Woodson is changing agents and likely will select CAA., which will advise Smith on whether to opt out.
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Responding to reports, including in The Post, that owner James Dolan requested Woodson to drop Larry Brown’s representative, Joe Glass, a team spokesman said Woodson has no qualms about finding a new agent but declined to comment further comment because his representation is “my personal business.’’
Glass and Dolan feuded during Brown’s 2006 contract dispute. Nevertheless, a person close to Brown said Glass’ recent hospitalization and hip surgery was also a factor.
“The parting was necessary and mutual,” the source said. “They remain great friends.’’