Report: Knicks willing to take on bad contracts in trade for asset
Nathaniel S. Butler / National Basketball Association / Getty

The New York Knicks have signaled to several teams that they are open to acquiring players with undesirable contracts in a trade, reports Ian Begley of SNY.

New York would presumably want a young player or a high draft pick - or potentially both - in such a deal, Begley adds.

The NBA has reportedly told teams that the 2020-21 salary cap won't be lower than $109 million, the same level as last season. However, clubs are lobbying the league to raise the luxury-tax line to $139 million, a $6.3-million increase from this past campaign.

Teams may have to trade away large contracts by attaching valuable assets in order to avoid paying penalties if the tax line comes in lower than their expectations.

The Knicks are expected to be one of the few teams with a large amount of cap room this offseason thanks to their financial flexibility. They hold a sizable $15.8-million team option on Bobby Portis' contract for 2020-21, while Taj Gibson, Wayne Ellington, Elfrid Payton, and Reggie Bullock are all on partially guaranteed deals, according to Spotrac.

However, New York has not made any decisions on players with options for next season, Begley notes.

Report: Knicks willing to take on bad contracts in trade for asset
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