The Knicks waived a number of veterans on Thursday as they look to continue rebuilding their roster.
The New York Knicks are re-working their roster ahead of free agency.
The team declined the team options of forward Bobby Portis and guard Theo Pinson. They are also waiving forwards Taj Gibson, guard Elfred Payton, forward Kenny Wooten and guard Wayne Ellington.
ESPN's Bobby Marks notes that the franchise now has $40 million in available cap space this offseason.
After a 21-45 season in 2019-20, New York is now under the leadership of team president Leon Rose and head coach Tom Thibodeau. Together they will look at fully developing its young core.
More on the NBA Draft
The franchise selected last year's Wooden Award winner Obi Toppin with the No. 8 pick in the 2020 NBA draft and SEC Player of the Year Immanuel Quickley with the No. 25 pick.
New York is building around center Mitchell Robinson, guard Frank Ntilikina and forwards Kevin Knox and RJ Barrett – all of whom are 22 years old or younger.
Check out the latest news and notes from around the NBA:
- Veteran forward Paul Millsap is going to weigh his options at the start of free agency before deciding if he'll return to Denver. (Mike Singer, Denver Post)
- The Nuggets are clear frontrunners to sign Real Madrid and Argentina point Facundo Campazzo. (Marc Stein, New York Times)
- Miami forward Kelly Olynyk has exercised his player option for the 2020-21 NBA season. (Adrian Wojnarowski, ESPN)
- The Timberwolves have extended a qualifying offer to Malik Beasley. (Michael Scotto, Hoops Hype)
- The Knicks plan to exercise their $4.2 million option on swingman Reggie Bullock.(Marc Berman, New York Post)
- Thunder forward Mike Muscala has exercised his player option to return this season. (Adrian Wojnarowski, ESPN)
- Seton Hall star Myles Powell is signing with the Knicks as an undrafted free agent. (Adam Zagoria)
- The Lakers are waiving guard Quinn Cook. (Shams Charania, The Athletic)