Ian Begley, SNY.tv | Twitter |

The Knicks currently have 14 players on standard NBA contracts and two players on two-way deals. In the regular season, teams can carry 15 players on standard contracts and two players on two-way deals.

So, projecting ahead to the season, the Knicks have room on the roster for one more standard contract.

New York has roughly $4 million in cap space remaining and a $4.7 million exception. One name in consideration: Lance Thomas.

The club would like to bring back the veteran Thomas if the sides can agree on terms, as SNY reported last month. Thomas is well-respected by the organization for his professionalism and as a mentor to younger players.

An SNY source said the club remains in touch with Thomas. The New York Post reported on Tuesday that Thomas is a "favorite" for the remaining roster spot.

The Knicks could also choose to keep their 15th roster spot open in case any of the players on the Summer League team impress them enough to earn a two-way contract. In that case, they could convert point guard Kadeem Allen's deal to a traditional NBA contract and sign a Summer League player to a two-way deal.

The Knicks waived Thomas prior to the date by which $1 million of his $7.6 million salary became guaranteed for the coming season.

The Knicks originally acquired Thomas, 31, as part of a three-team trade in January 2015. Thomas was previously the longest-tenured member of the Knicks' roster.

He averaged 4.5 points and 2.1 rebounds in 17 minutes last season while playing in 46 games.

Thomas, a Duke product, played high school basketball in New Jersey and was raised in Brooklyn. He has eight seasons of NBA experience.

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