Under the rules of the current Collective Bargaining Agreement, which expires this summer, the Knicks would not be able to re-sign Wilson Chandler this summer and also sign Carmelo Anthony.
Assuming the cap remains at $58 million, the Knicks will have almost $40 million in commitments assuming Turiaf opts out of his deal. Wilson Chandler’s cap hold is going to be roughly $6.4 million, which would put the Knicks at about $46 million in salary commitments exclusive of whoever they draft. That leaves just about $12 million left to play with, which is not enough to sign ‘Melo.
Clearly something has to give. The Knicks will need to renounce Chandler in order to afford ‘Melo, but that wastes an asset. Instead he should be included in a deal for ‘Melo, or for someone other than ‘Melo who is making about $1 or $2 million at most so that the Knicks can also afford their draft pick and ‘Melo.
Now, if Turiaf doesn’t opt out of his deal, then it doesn’t look like the Knicks cannot afford to give ‘Melo a max deal irrespective of what they do with Wilson Chandler.