Knicks won't pick up option on Rose contract
It appears that guard Derrick Rose's days with the Knicks are over since the franchise has decided not to exercise the team option on his $15.6 million contract. Credit: Kathleen Malone-Van Dyke
Faced with a midnight Saturday deadline, the Knicks opted to not exercise the $15.6 million team option on Derrick Rose’s contract, likely ending his time with the team according to a source.
Rose was used sparingly on the court in this season, but remained a valuable voice in the locker room and was beloved by not just his long-time coach, Tom Thibodeau, but throughout the organization as he served as a mentor to many of the younger players on the roster.
Rose appeared in just 27 games this season and one three-minute appearance in the playoffs. He has expressed hope to continue playing while he will turn 35 before the start of next season. But for the Knicks, the contract was most valuable as a trade piece and a pricy risk if they could not find a deal.
There are contending teams — the Lakers, Suns and Celtics or even a return to his hometown Chicago Bulls— who all could have minutes available at point guard for Rose, who is healthy again and has adjusted his game, becoming more of a three-point threat in recent years. But for the Knicks, with Jalen Brunson playing huge minutes and defensive-minded Deuce McBride and Immanuel Quickley as backups, Rose has not had a role.
Rose’s value to the Knicks, like Evan Fournier, who has an expiring $18.9 million contract for 2023-24, was as a trade chip to match salaries, whether in a search for a star or for use in a sign-and-trade. The Knicks, who have had cap space to chase free agents in recent years will not be in that category this time around.
Even before the team option on Rose, as well as the $1.9 million team option on McBride’s contract the Knicks are over the cap by approximately $13 million (with a June 29 deadline) and heading towards the luxury tax if they extend Rose. So utilizing Rose’s contract would allow them to add a player before hitting the tax threshold.
The Knicks could still bring Rose back on a veteran minimum contract, but he is more likely to try to find a place where he could contribute in a regular on-court role.
Steve Popper covers the Knicks for Newsday. He has spent nearly three decades covering the Knicks and the NBA, along with just about every sports team in the New York metropolitan area.