Allan Houston waives no-trade clause

[djb]

The possibility of a CWebb/Houston+ swap isn't entirely out of the question..yet.

The Knicks Complete Two Deals
By Chris Broussard

Three days remain before the Knicks can officially sign players, but almost all of their off-season work is done. On Friday Allan Houston waived his request for a no-trade clause and accepted the Knicks' offer of a six-year, $100 million contract, a person who knows of the negotiations said. The deal will make Houston the highest-paid player in franchise history.
Later Friday night the Knicks came to terms with power forward Clarence Weatherspoon on a deal that will pay him $27 million over five years. Jimmy Sexton, Weatherspoon's agent, confirmed the agreement yesterday.

The players are expected to sign their contracts Wednesday or Thursday. Houston will receive the maximum amount allowable under the league's collective bargaining agreement. On Tuesday the league will announce its new salary cap, which has been projected to be $44 million. If the projections are correct, Houston will receive about $103 million.

Houston was unavailable for comment yesterday, and Scott Layden, the Knicks' president and general manager, said he would not speak about free agents until Wednesday. But Bill Strickland, Houston's agent, said the deal had been completed.

"We have substantially resolved all of our issues," Strickland said.

The Knicks outbid the Cleveland Cavaliers for Weatherspoon, a 6-foot- 7, 265-pound veteran who has been in the league nine seasons. Weatherspoon started all 82 games for the Cavaliers last season, averaging 11.3 points while shooting 50.1 percent from the field. He also had 9.7 rebounds a game (12th-best in the league). Cleveland offered him a four-year contract worth slightly more than $6 million a season.

Weatherspoon, who would have started in Cleveland, will almost certainly come off the bench behind Kurt Thomas next season.

Having given their midlevel exception to Weatherspoon, the Knicks do not have any more significant money to spend on a free agent.

Souce: The Knicks Complete Two Deals

[MavsFanFinley]

I thought this was interesting...I still don't see Houston ending up in Sacramento though.

[MFFL]

I wonder why Houston gave in - the Knicks would have bit the bullet and included the no trade clause if Houston had stood firm. Oh well, New York is a hard team to figure out and so are the players.

[djb]

I don't think Houston really "gave in." The guy got a max deal for crying out loud! Perhaps double what he's really worth.

[MFFL]

But New York was over a barrel. They HAD to resign Houston because they are so far over the cap they couldn't sign anyone else's free agents.

[MavsFanFinley]

I don't mean to sound stupid MFFL, but how did they sign Weatherspoon if they are so over the cap?

[djb]

They used the large $4 mil exception didn't they?

[djb]

Oh wait I take that back..it was a multi-year deal. [img]i/expressions/face-icon-small-blush.gif[/img]

[MFFL]

Having given their midlevel exception to Weatherspoon, the Knicks do not have any more significant money to spend on a free agent.

[MavsFanFinley]

How did the exception turn into $27 million, damn--Im confused?

[TheKid]

Well with him waiving the no trade, I won't be surprised to see him shipped out. I don't see him going to the Kings, but I see him going somewhere though.

[MFFL]

I think you can sign a multi-year deal using the exception as the base if you have cap room the following years.

[MavsFanFinley]

Thanks MFFL...I don't know a lot about how the salaries work.