Knicks to waive Houston

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Knicks to waive Houston

Postby Ruff Ryder on Fri Jun 24, 2005 8:22 am

Knicks ready Allan tax ax

Deal will allow $40M savings

By FRANK ISOLA
DAILY NEWS SPORTS WRITER

Allan Houston may want to start pondering a future outside of Madison Square Garden.
James Dolan
SAN ANTONIO - A clause in the NBA's new collective bargaining agreement will likely end Allan Houston's career in New York and save James Dolan millions of dollars in the process.

A person familiar with the negotiations between the league and the players' union told the Daily News the two sides are finalizing a clause that would give teams that pay the luxury tax the option of releasing one player and removing that player's salary from their luxury-tax number.

The Knicks are expected to take advantage of the one-time only offer and would save approximately $40 million if they waive Houston, the oft-injured shooting guard team president Isiah Thomas has been trying to remove from the roster since last year.

Houston, 34, who has played in just 70 games over two seasons because of an arthritic knee, is scheduled to earn $39.8 million over the last two years of his contract. If the Knicks cut Houston, they are still obligated to pay his entire salary, and his contract would still count against the salary cap.

However, the Knicks may be $45 million over the luxury-tax threshold next season and would have to pay a dollar-for-dollar tax. By releasing Houston, who will earn $19.125 million in 2005-06, they would eliminate the same amount that Dolan, the Garden chairman, would have to pay in luxury tax.

The Knicks are likely to be $45 million to $60 million over the tax threshold in 2006-07, the final year of Houston's $100 million contract. By cutting Houston, Knicks would eliminate $20.7 million from their luxury tax.

"I think he's gone," said one league executive. "How could they turn that down?"

Thomas did not return calls yesterday. Five days ago, Houston told The News he "didn't really know" if the Knicks wanted him back.

"But I don't really think about it," Houston added. "I just think about being fortunate enough to continue to play."

The source with knowledge of the contract talks between the league and the union said that the clause, which is being called an "amnesty provision," will be included in the new labor deal. The agreement will not be officially finalized until late July. At that time, teams that have to pay the luxury tax will likely be given a window - approximately one month - to exercise the clause.

There have been rumors of the Knicks and Houston negotiating a buyout, but under the amnesty provision, the Knicks would save more money by releasing him. Of course, the Knicks may first try to convince Houston to retire, which would also be cost-effective while creating an opportunity for them to apply for a medical exception to sign a free agent.

The Knicks began preparing for life without Houston last summer when Thomas signed free-agent shooting guard Jamal Crawford. They currently own two first-round picks in Wednesday's NBA draft and will likely use one of them to select a guard. The club is even debating whether to either draft or trade for a point guard and move Stephon Marbury to shooting guard.

Houston's relationship with Thomas soured the moment Thomas broached the subject of retirement. However, Houston's one ace in the hole is Dolan, who signed the shooting guard to the richest contract in franchise history in July 2001. Dolan has a close relationship with Houston and the two have been known to play golf together during the offseason.

But it's hard to imagine that Houston's ties to Dolan are worth $40 million to the Garden boss. The Knicks won only 33 games last season and haven't won a playoff series since 2000. Houston went out of the lineup for good on Jan. 21 and can't say for sure whether he will be ready for the start of training camp in October.


It's been fun, about time he's fuckin done.
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Postby Jeffx on Fri Jun 24, 2005 8:31 am

Ahhh, you beat me to it!!!! :lol:

This is wonderful news for Knick fans. ANYTHING to get out of that horrible contract.
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Postby Jona on Fri Jun 24, 2005 8:32 am

His contract was fuckin ridiculous, it was about time... :|
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Postby AlwaysWhat,NeverWhy on Fri Jun 24, 2005 8:36 am

Once again, nobody mentions his contribution to the Knicks all these years when he was their only reliable ouside scorer and leader...

It's all about his huge contract and how the Knicks got rid of it, so that they can sign another snot-nosed kid who puts money above the game...

Arrghhh, thsi is hopeless... :(
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Postby maes on Fri Jun 24, 2005 9:24 am

I feel bad for both sides...Houston's rapid decline was clearly because of his knee...you just don't drop from 20+ ppg to utterly useless just because you age 1 year.

It's not Houston's fault he got injured permanently, and it's not the Knicks' fault either. What can you do in a situation like that?

I think the League should allow permanent disability cases like that to be taken off the cap, but the team still has to honor the contract. That way Houston can still get his money, but the Knicks can replace him.
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Postby air gordon on Fri Jun 24, 2005 9:28 am

lol dweaver.. out of sight, out of mind...

its the organization's fault for basically outbidding themselves by giving that outrageous contract to him
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Postby AlwaysWhat,NeverWhy on Fri Jun 24, 2005 9:36 am

lol dweaver.. out of sight, out of mind...


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Postby zmac on Fri Jun 24, 2005 9:57 am

I hope Houston signs with the cavs for a minimum contract :P
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Postby COOLmac© on Fri Jun 24, 2005 10:45 am

athritis is not healthy (N)
wonder what kind of food houston has eaten during his glory days :?:
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Postby Andrew on Fri Jun 24, 2005 10:49 am

That's quite a generous clause. Even though he's made good contributions to the Knicks in the past, Houston's not worth his contract now more than ever. I would be really surprised if the Knicks didn't take advantage of this opportunity.
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Postby [L3]1101 on Fri Jun 24, 2005 11:07 am

Even if he coud still score his 20ppg, 20mil a year is not worth it. There are plenty shooters out there, when given the chance, will be able to score 20ppg.
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Postby MaD_hAND1e on Fri Jun 24, 2005 2:56 pm

Detroit should sign him and use him as an 8th player. Look what they did to McDyess :P
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Postby Andrew on Fri Jun 24, 2005 2:58 pm

If he's healthy, I don't think he'll be out of a job for very long. He certainly won't be out of pocket no matter what happens.
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Postby COOLmac© on Fri Jun 24, 2005 3:04 pm

the only guy i knew worth one million dollars per points scored is no other than MJ himself... scoring 32 and having 32 million per year is worth it....sorry allan but your 20ppg and 20 million is really not that worth it IMO (N)
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Postby zmac on Fri Jun 24, 2005 3:10 pm

I think not many teams will want him.
The only teams that would, I think would be Cleveland- who i hope he goes to for a small salary.
New Orleans or maybe even Denver.
In all those teams he could get minutes.
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Postby Amphatoast on Fri Jun 24, 2005 3:11 pm

any team needing a 3pt shooter will probably pick him up
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Postby Jackal_ on Fri Jun 24, 2005 3:12 pm

Man I saw this happening sometime soon...I can see a young team picking him up for his leadership and experience... like the Raptors?? *crosses fingers*
But he can't expect to get paid up the ass..his numbers have dropped considerably..
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Postby zmac on Fri Jun 24, 2005 3:12 pm

Every team would want another 3 point shooter....almost every Phoenix player can hit the three ball really good.
Its just that how bad a team wants a 3point shooter.....Like Cleveland.
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Postby Zee on Fri Jun 24, 2005 3:22 pm

So if he were to sign with another team, would the Knicks still have to pay him? And if they do, then I don't think he has any reason to be looking for a big contract somewhere else...
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Postby Amphatoast on Fri Jun 24, 2005 3:22 pm

yes this will so hes kinda rich
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Postby zmac on Fri Jun 24, 2005 3:23 pm

Zee wrote:So if he were to sign with another team, would the Knicks still have to pay him? And if they do, then I don't think he has any reason to be looking for a big contract somewhere else...

No the Knicks wouldnt have to pay...
otherwise none of this talk would be happening because he wouldnt be moving if the Knicks still had to pay him.
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Postby Amphatoast on Fri Jun 24, 2005 3:25 pm

they will still have to pay his salaries for the next 2 seasons but they save on the luxary tax with him out. about 40mill in taxes they save i think
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Postby zmac on Fri Jun 24, 2005 3:27 pm

Do they...
I thought if another team sign him they wouldnt have to pay him nemore..
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Postby AlwaysWhat,NeverWhy on Fri Jun 24, 2005 3:28 pm

Actually, the Knicks WILL pay his salary and put money on Houston's bank account... it's just that his salary won't count against the team's cap... So Allan will still get his 20M per year, but th eKnicks will be free of 20m salary cap space along with free of paying 20M to the league as luxury taxes...
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Postby Amphatoast on Fri Jun 24, 2005 3:29 pm

na, if it was like that many teams would be releasing players who are overpaid at the moment
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