Prior to the suspension of the NBA season, the New York Knicks were projected to have over $44.6 million dollars in cap room this offseason if they declined the team options and partial guarantees on Bobby Portis, Elfrid Payton, Reggie Bullock, Taj Gibson, and Wayne Ellington.
In fact, only five teams—the New York Knicks, Atlanta Hawks, Charlotte Hornets, Detroit Pistons, Miami Heat, and Phoenix Suns—were projected to have any cap space this offseason.
With the suspension of play and resulting lost revenue – from both gate receipts and television deals – ESPN’s Bobby Marks believes the salary cap could plunge this offseason by $25-30 million from the previously projected $115 million.