The Knicks announced today that the team has waived three players: guard Kadeem Allen, forward Jeff Coby and center Joakim Noah
— NY_KnicksPR (@NY_KnicksPR) October 13, 2018
Here are the financial implications on the Joakim Noah waiver/stretch for the Knicks: New York will incur an $18.5M cap hit in 2018-19 that will be reduced by $522,252 if the center signs a 1 year $2.4M (minimum exception) guaranteed contract with a new… https://t.co/Nxd4PfQd24
— Bobby Marks (@BobbyMarks42) October 13, 2018
The waive and stretch provision with Noah will leave the Knicks a $6.4M annual cap hit for three seasons starting in 2019-20.
— Adrian Wojnarowski (@wojespn) October 13, 2018