Friday, 19 October, 2018

Knicks officially waive Joakim Noah, still owe former All-Star $38 million

Isola Joakim Noah a cautionary tale of free agency going from New York headliner to Knicks disaster Isola Joakim Noah a cautionary tale of free agency going from New York headliner to Knicks disaster
Cary Erickson | 14 October, 2018, 03:51

NY will waive and stretch Noah. According to a report from ESPN's Adrian Wojnarowski and Ian Begley, shortly before the news was officially announced, Noah had been resistant to a buyout because there are no teams expected to add him to their rosters. Unable to find a trade, the Knicks waived the center Saturday, Oct. 13, 2018, with two years and $37.8 million remaining on his contract.

After a standout tenure with the Chicago Bulls from 2007-16, Noah signed a gargantuan four-year, $72.6-million contract with the Knicks in 2016. His $18.6 million salary for this season will count fully against the salary cap and the Knicks can stretch out the remainder of his salary over multiple seasons. The team will still have to pay him the remaining $38 million, but will spread out his remaining salary over more years with less of an annual cap hit. However, it's somehow gone even worse than people expected.

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Noah hadn't been with the team since clashing with former coach Jeff Hornacek last season. In two seasons with the Knicks he played just 53 games.