Novak

[Goose85]

Steve has signed on to stay with the Knicks for four years and $15 mil.


http://www.cbssports.com/nba/blog/eye-on-basketball/19543027/knicks-retain-steve-novak

[IWB]

I don't understand this - I thought the early bird ruling made it that the Knicks would have to pay him $5.1 per to keep him? Or was it just a minimum of a $5.1 contract?

[Markedman]

Early Bird rights meant they could go to 5 million maximum...not that they had to pay him 5 million.

This is a good contract for Steve. Might have been able to get more per year in a shorter contract but he went for the longer term fully guaranteed deal.

If he manages his money well he should be set now......

[Hamostradamus]

To go with the $6 million he already earned, that's $21 million in career earnings. Not bad for a 28 year-old guy.

[Goose85]

Worth the money when Carmelo Anthony is not on the floor as once he gets it it is going up. When Anthony was out and they were moving the ball, Novak was becoming a big part of the offense.

[IWB]

Early Bird rights meant they could go to 5 million maximum...not that they had to pay him 5 million.

Markedman - here is what I was referring to...."Lin and Novak will enter the 2012-13 free agency period with early Bird rights, meaning that they can be re-signed for 175 percent of their salary the previous season or the NBA average salary, whichever is greater (http://espn.go.com/new-york/nba/story/_/id/8085646/ruling-gives-jeremy-lin-chauncey-billups-bird-rights-affects-cap).

Whichever is greater would be last year's average salary, which was $5.15 million (http://www.nba.com/2011/news/features/steve_aschburner/08/19/average-salary/index.html).

So, my question was, did they just have to sign him to a deal worth more than $5.15 or is the deal structured so that he makes $5.15 in year 1?

[Markedman]

I'm not sure how it is structured but " meaning that they can be re-signed for 175 percent of their salary the previous season or the NBA average

So they "can" go up to that number.....it doesn't say they must go to that number.

I think it basically gives teams the right to go over the salary cap without penalty up to a certain number.

I think Steve was happy in NY and I doubt anybody else offered him 4 years fully guaranteed at comparable money.