Jamal Crawford's surgically repaired ankle may have cost James Dolan close to $20 million.
The Knicks and Steve Francis were working on a buyout early last week, but according to a Knicks source, those plans changed dramatically when Crawford was diagnosed with a stress fracture in his right ankle.
Francis is scheduled to earn $40 million over the next two years, including his remaining income from this year's contract. Francis and the Knicks had negotiated a buyout for approximately $30 million. According to a source, Francis was convinced that he could sign for the mid-level exception over the summer to make back the money.
When you factor in the luxury tax, the Knicks would have saved approximately $20 million by releasing Francis.
"Jim gets killed for a lot of things, but you have to give him credit for doing whatever it takes to win," the source said. "He could have saved a lot of money but he wants to give the team every chance to reach the playoffs."
As part of the agreement, the Knicks planned to release Francis before March 1 because any player cut after that date is prohibited from being on a playoff roster. The news on Crawford's injury was announced on Feb. 27.