The Knicks have been extremely patient in their negotiations this summer with free agents such as David Lee, Ramon Sessions and Nate Robinson.  Because of the projected decline of the salary cap, there will be very little margin of error if the Knicks intend to sign more than one high priced free agent in 2010.

Using the current cap of $57.7M (Same Cap), as well as the High Cap ($53.6M) and Low cap ($50.4M) figures, which are based on the 2% to 5% decline, respectively, in BRI that is projected by the NBA league office, we can estimate precisely how much cap space will be available for the Knicks in 2010.

2010 Knicks? Salary Cap Room (as of projected roster from August 18, 2009)

Cap Room:  $20.22M (Low Cap), $23.42M (High Cap), $27.52M (Same Cap)

Available Cap Room After One Max Contract: $4.13M (Low Cap), $7.33M (High Cap), $11.43M (Same Cap)

Also note that if the cap does NOT decline next summer, and stays at this season?s level (Same Cap), the Knicks would have room to offer a second max contract ONLY IF the team rids itself of Jared Jeffries.  Even if the cap declines just 2%, a second max contract would not be possible.

2010 Knicks? Salary Cap Room if contract of Jared Jeffries is removed

Cap Room: $26.63M (Low Cap), $29.83M (High Cap), $33.93M (Same Cap)

Cap Room After One Max Contract: $10.54M (Low Cap), $13.74M (High Cap), $17.84M (Same Cap)