Donnie Walsh addressed ongoing speculation over why he paid a steep price to dump the contract of Jared Jeffries on the day of the trade deadline in February.

While some have wondered whether the move was made simply to ensure that the Knicks are able to retain David Lee, Walsh pointedly notes that he can now offer two maximum-salary contracts this summer.

"That's the beauty of having the ability to have two," Walsh said with a laugh. "I can't answer every question as to what if this guy does this, and another guy does that. But basically we're in a position where we can go out and make offers, and we will with whoever's out there."

But Walsh says he did not have inside information about any free-agent's intentions that caused him to pull the trigger.

"It was the last day of the trading deadline, and I had to weigh the ability to have another $10 million worth of room, which could be substantial in the summer and also for the future if you regulate it the right way, versus what I gave up," he said. "I didn't want to give up Jordan Hill, and I certainly didn't want to give up a draft choice. So when I went back and forth with myself, I thought the ability to regulate this cap is more important than anything else, and so that's what I did, and I vowed to myself to try to make up for what I lost. We'll see how that goes."

Walsh denies any unspoken agreement between the Knicks and any free-agent-to-be.

"But there?s no understanding, or ?I know what I?m doing? as far as specifics. No. We?re like the rest of the world. We have to go in there and try to get the best players we can."

Walsh says he will have several contingency plans in place.

"I'm not telling any plans. I'm not doing that.  But look, there's going to be Plan A, B, C, D, E, F and so on. It's going to be like that.  I'm not going to write 'em out, no, but they're written out in my head."

Walsh insists that he will only commit to players he feels can turn the team around in short order.

"If you've taken all your flexibility for the next 3-4 years, you got to be damn sure that the guys you're bringing in can do the job."