Chauncey Billups Contract Decision Awaits Knicks; $14 Million Salary Becomes Guaranteed Friday
If Billups is waived, the Knicks only owe him $3.7 million for the 2011-12 season. Otherwise, Billups will be on the books for a $14.2 million contract. This applies to both Billups’ actual salary and his cap figure; the Knicks can open up $10.5 million in cap space by waiving him.
However, the decision’s not quite that simple, largely because the team’s depth at point guard is abominable and because even if the Knicks waive Billups, the team won’t be far enough under the salary cap (wherever it ends up in the new collective bargaining agreement) to address the point guard position and any other need.
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