Carmelo Took $6M Less In Salary, Re-Signs With Knicks For $123M
Carmelo Anthony left between $6 million and $7 million on the table, agreeing upon a five-year deal with the New York Knicks worth between $122 million and $123 million.
Anthony structured the deal to give the Knicks more cap space in 2015. It is believed he didn’t take his annual 7.5 percent raise in Year 2 and may have taken a tiny pay decrease. Under collective bargaining agreement rules, a player can receive as high as a 7.5 percent pay raise annually.
“He did exactly what we kind of asked him to do,’’ Jackson said. “Give us a break in the early part of the contract when we have some wiggle room — hopefully big enough wiggle room — next year when we can exploit it.’’
Anthony will create about $2 million in additional cap space in 2015.