Following a great draft night for the New York Knicks, which included the addition of NY native and AP National Player of The Year, Obi Toppin, the franchise is clearing the house to sign new faces.
The Athletic's Shams Charania reported the Knicks have declined team option on Bobby Portis. Also, they have waived veterans Elfrid Payton and Taj Gibson.
The Knicks also waived big man Kenny Wooten and chose not to tender a qualifying offer to Damyean Dotson. Additionally, New York won't pick up its $8-million team option on sharp-shooter, Wayne Ellington.
Newsday has learned Knicks are waiving Elfrid Payton and Kenny Wooten and not picking up option on Bobby Portis. Also, no qualifying offer for Damyean Dotson, who is an unrestricted FA now. More decisions to come...— Steve Popper (@StevePopper) November 19, 2020
Knicks also will not pick up team option on Wayne Ellington, per source. Clears up cap space for New York and, regarding Wooten, also opens up a 2-way contract spot.— Ian Begley (@IanBegley) November 19, 2020
After this roster moves, the Knicks will have $40 million in cap space for free agency, where they hope to be able to make an impact. The Knicks can still re-sign each veteran they waived to a lower contract, including Portis and Gibson.
New York is expected to make some big moves in the free agency, since the new head coach Tom Thibodeau has told the team's front office to make win-now moves.