Here’s How Much Money the Knicks Still Owe Joakim Noah
Kicks lucked out — again.
The poor old Knicks just cant catch a break.
On Saturday, the franchise announced that they’ve waived disgruntled veteran center Joakim Noah, who still had two more, very lucrative years remaining on his contract.
We all knew it was coming, with Jo’s injuries forcing him out of favor — and on top of that, he was said to be a damn nuisance to the locker room.
Joakim Noah scored a total of 12 points last season, yet pocketed $17,765,000 in salary. The Knicks will pay him another $38 million over the next four years.
That works out to approximately $4,632,500 per point scored over those final five years with the Knicks.
— Tommy Beer (@TommyBeer) October 13, 2018
Over $4.5 Million PER POINT?
My lord. No wonder Knicks fans have lost all faith in their franchise with moves like this.
Noah didn’t come to an agreement on a buyout, forcing the Knick to pay him the remaining $37.8 million remaining on his contract.
By waiving and stretching Noah, the Knicks will eat $6.43 million in dead cap space through the end of the 2021-22 season instead of conceding $19.3 million next summer. More here: https://t.co/qU73ZO7Cu7
— Kristian Winfield (@Krisplashed) October 13, 2018
New York will pay him the $18.5 million he’s owed for this season, but then they’ll stretch the remaining $19.3 million over the following next years after that.
The Knicks will absorb a cap hit of $6.43 million each year through the end of the 2021-22 season. What a damn waste.
This was always a horrible contract from the beginning, and just like the Knicks always do, they are paying the price now and into the future.