Knicks get #29 pick from Lakers

From DraftExpress:

"A source with the New York Knicks tells us that they've acquired the #29 pick from the LA Lakers in exchange for 3 million dollars in cash."

4 months ago YaoPau 12 comments 0 recs |

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Knicks spend money like water

"Remember, I'm Italian".

by BCs71 on Jun 25, 2009 12:57 PM CDT reply actions 0 recs

3 million is a lot for the #29 pick. Factor in guaranteed salaries, and the Knicks are committing $7 million dollars to the #29 pick. $7 million! Whenever I start thinking about basketball as an actual business I want to advise these owners to take out their money and invest in bonds.

by YaoPau on Jun 25, 2009 1:21 PM CDT up reply actions 0 recs

It could be that valuable

to them if it’s to be used as part of a bigger deal to move up further into the draft. But it is the Knicks. They’ll offer the full MLE to Ben Wallace after he’s bought out.

by kingj41 on Jun 25, 2009 1:27 PM CDT up reply actions 0 recs

I think that's the maximum you can pay for a pick.

So it certainly is an eyebrow raiser. Although to the Knicks, the cap hit is much more important than the money expended; they’d rather spend $4M on a guy who only counts $1M against the cap than $3M for a guy who counts $3M against the cap.

by arjoseph on Jun 25, 2009 1:59 PM CDT up reply actions 0 recs

The NYKnicks make money just fine.

They make $74 million in ticket sales alone. Then they have their TV deals and everything else. CableVision owns all of these things.

People should remember that while they have the right to their opinion, they are not entitled to be taken seriously. --Bruce Bartlett

by tyger1147 on Jun 25, 2009 2:15 PM CDT up reply actions 0 recs

Are they going for Calathes?

He will go overseas this year most likely.

And tyrus Thomas just replied to me on twitter on where he likes to eat
Www.twitter.com/knickknack7450

by knickknack7450 on Jun 25, 2009 1:11 PM CDT reply actions 0 recs

Hopefully the Bulls do that with the 26 pick . . .

And use the extra $3 million to help resign BG.

Why resort to name calling?
-Dionysus2.0

because I wish to insult you personally
-your friendly BullsBlogger

by Big D on Jun 25, 2009 1:29 PM CDT reply actions 0 recs

The extra 3 million doesn't help all that much in re-signing BG. They still have to fill out the roster

and a rookie contract is one of the cheapest ways to do it. Even if they didn’t have to fill out the roster, signing BG puts them into the luxury tax, so they have to pay tax on every dollar above it, so it really only allows them offer BG $1.5 million more than if they didn’t make this move. Subtract out the value of being forced to sign a vet minimum guy and it’s more like $1 million or less extra that they can offer BG without feeling it. Just not good.

1. Cut a hole in a box
2. Put your Kirk in that box
3. Make some team open that box

by fundamentallysound on Jun 25, 2009 1:33 PM CDT up reply actions 0 recs

You don't need to give a guy signed to the veteran's minimum a multi-year guaranteed contract,though

I doubt there’s going to be anyone at 26 who would be anything more than roster filler (and even if there is, it would be pure guesswork to identify him), and I’d rather have my roster filler on one year deals.

Why resort to name calling?
-Dionysus2.0

because I wish to insult you personally
-your friendly BullsBlogger

by Big D on Jun 25, 2009 1:37 PM CDT up reply actions 0 recs

technically

if in tax territory, you don’t get ‘taxed’ for signing Vet Minimum players (ahhhh unions!) but would for that pick (?). But it’s not much of a difference, agreed.

USE THE SOFTWARE. Actions-> Rec/Flag. Reply to comments with the reply button. Rec good fanposts/fanshots so the crud gets pushed down.

by your friendly BullsBlogger on Jun 25, 2009 1:37 PM CDT up reply actions 0 recs

right. my math was rather quick and dirty, but the point was simple. savings aren't that much

and who knows maybe you get lucky and find a gem. the best option is dealing for multiple second round picks and snagging a couple of guys that you can cut if they stink.

1. Cut a hole in a box
2. Put your Kirk in that box
3. Make some team open that box

by fundamentallysound on Jun 25, 2009 1:41 PM CDT up reply actions 0 recs