This also would give the Knicks access to the full non-taxpayer midlevel exception of $12.4 million and create more room below the salary apron.
The Knicks may want more room below the apron because they are considering a move that would hard cap them at the apron.
They would be hard capped at the apron if they used their full non taxpayer midlevel exception.
They would also be hard capped at the apron if they executed a trade that returned more than 110% of the salary they sent out.
The full midlevel exception would give the Knicks better resources in free agency.
It would also leave Hart with a lower salary in 2023-24 than he could receive as a free agent. So, if he opted in, Hart would essentially be taking less money in 2023-24 to give the Knicks more flexibility.
If he signs a four-year, $80-plus million extension in August, it will probably make up the difference. But Hart still may have made more money over the five-year period covered by the opt-in clause and extension (2023-24 to 2027-28) if he'd signed with New York as a free agent this summer.
The bottom line, at this point: New York will have more money to spend in free agency this summer if Hart sacrifices financially and opts in.
What could the Knicks do with that extra money?
It's worth noting here that members of the organization are in favor of pursuing potential free agent Donte DiVincenzo. In addition to DiVincenzo, the club probably has several free agents on its radar.
If they sign DiVincenzo or another player, the Knicks would need to create a rotation spot for that player. They could do this by trading a rotation player to a team that can absorb the salary into cap space or trading two rotation players for one in return.
