Derrick Rose's time with Knicks likely over
Knicks guard Derrick Rose looks on against the Oklahoma City Thunder in the second half of an NBA basketball game at Madison Square Garden on Sunday, Nov. 13, 2022. 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, a source said.
Rose was used sparingly 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.
The Knicks obtained Rose in a midseason trade in the 2020-21 season and he was a key piece in their run to the postseason, even being elevated to a starting role by the end of the first-round series against the Atlanta Hawks.
Rose appeared in only 27 games this season and one three-minute appearance in the playoffs. He will turn 35 before the start of next season and hopes to continue playing. For the Knicks, the contract was most valuable as a trade piece and a pricey risk if they could not find a deal. There was a possibility of extending the window to sign the extension, but instead the two sides opted to part ways Saturday.
The Knicks did agree to extend the deadline for Josh Hart, who can exercise a $12.9 million player option. The midnight deadline was pushed back to Thursday, one day ahead of the start of free agency. Hart was expected to reject that option and become an unrestricted free agent, and the two sides still are expected to come to a deal to return him to the team. The Knicks do retain his Bird Rights, and if he does opt in, he will be eligible to sign an extension in August worth up to approximately $80 million over four years.
There are contending teams — the Lakers, Suns and Celtics or even a return to his hometown Bulls — who could have minutes available at point guard for Rose. He is healthy 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 toward 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 still could bring Rose back on a veteran minimum contract, but he is more likely to try to find a place where he can contribute in a regular on-court role.
Free-agent targets
While the Knicks will be over the cap, that doesn’t mean they won’t be searching for roster help on the open market. They will have the $12.2 midlevel exception available and could exceed that by using Rose and Fournier — as well as dangling Obi Toppin and possibly even Quickley — in a deal. Here are some reasonable targets in a middling free-agent market this summer with free-agency talks beginning Friday at 6 p.m.
Donte DiVincenzo, Golden State
Another Thibodeau type, a hard-nosed two-way player who defends with versatility. Did we mention he’s also a Villanova alum and would join Brunson and Josh Hart? (The Knicks also have to get a new contract in place for Hart, who likely will be an unrestricted free agent.)
Grant Williams, Boston
If the Knicks move out Toppin, they have to replace his minutes behind Julius Randle at power forward, limited as they may be. With the Celtics adding Kristaps Porzingis last week, Williams could be a salary-cap casualty. He would fit the Knicks' style of play more than Toppin with his defense, passing and three-point shooting, along with his toughness.
Bruce Brown, Denver
Denver coach Michael Malone made a very vocal case for having Brown return to the defending champs, but the Nuggets are limited in what they can offer him. His defensive versatility would be a nice fit on the Knicks' second unit.
What could help teams like the Knicks is that the new collective bargaining agreement, with very restrictive constraints on moves once a team ventures into the second tax apron, will prompt some teams to try to shed future salary. For example, when Golden State dealt away Jordan Poole in a trade for Chris Paul this past week, it wasn’t just about talent on the court — or ridding themselves of a player who had been punched by one of the team leaders — but also about getting rid of an expensive multiyear contract for the one-year deal that Paul holds.
Draft day drama
The Knicks were without a pick in the NBA Draft on Thursday, and despite whispers that they would try to move Toppin for a mid-to-late first-round pick, they did not make a deal.
Toppin and the team not only were trying to find a new home for him — with Toppin hoping for more playing time and the opportunity to showcase his game as he now is extension-eligible — but word leaked of a screaming confrontation with Thibodeau after Game 4 of the Eastern Conference semifinal series in Miami, first reported by The Athletic.
So it seemed odd that when the draft was over, the Knicks not only still had him on the roster but immediately signed his younger brother, Jacob Toppin, to a two-way contract. The younger Toppin was undrafted after playing one season at Rhode Island and three at the University of Kentucky. As a senior, he doubled his scoring average to 12.4 points per game.
The Knicks also signed Jaylen Martin to a two-way deal. Martin, who went undrafted after playing for Overtime Elite this season, played for former Knicks point guard Charlie Ward at Florida High School. Ward posted on social media: "It's truly an incredible feeling to see you selected by my former team, the NY Knicks. Embrace the opportunity to showcase your talent and let your skills shine. Play with the same intensity, determination, and heart you always possessed, and I'm confident you will make a significant impact on the team."
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.
