Frank Ntilikina has an $8.3 qualifying offer if the Knicks want to make him a restricted free agent. He has a cap hold of $18 million, but obviously that doesn’t matter since the qualifying offer is so much lower and obviously higher than he would get on the open market, so he’d just take the qualifying offer if the Knicks made it, which they likely will not.
So if they renounce his cap hold and don’t give him the qualifying offer, he’ll be an unrestricted free agent who the Knicks would only be able to sign with cap space, but the Knicks obviously have oodles of cap space.