Before we dive into potential targets for the team, let's take a quick glance at notable transactions by Phil Jackson ever since he took over the reigns in 2014.
Notable Transactions/Roster Moves under Phil Jackson
June 25, 2014: Acquired PG Jose Calderon, PG Shane Larkin, SG Wayne Ellington, C Samuel Dalembert, and two second round draft picks (Cleanthony Early and Thanasis Antetokounmpo) from Dallas in exchange for C Tyson Chandler and PG Raymond Felton.
July 13, 2014: Agreed to terms with SF Carmelo Anthony on a five year deal.
January 5, 2015: Acquired SF/PF Lance Thomas from Oklahoma City, C Lou Amundson, C Alex Kirk, 2019 2nd round pick from Cleveland, in exchange for SG Iman Shumpert and SF J.R. Smith.
January 7, 2015: Signed PG/SG Langston Galloway to 10-day contract.
February 16, 2015: Waived PF/C Amar'e Stoudemire.
February 19, 2015: Acquired SG Alexey Shved and 2nd round picks in 2017 and 2019 in exchange for PG Pablo Prigioni.
July 9, 2015: Signed C Robin Lopez to four year contract, SG Arron Afflalo and SF Derrick Williams to two year contracts. Acquired PF/C Kyle O'Quinn from Orlando in exchange for the right to exchange 2019 2nd round picks and cash considerations.
July 11, 2015: Re-signed SF/PF Lance Thomas.
July 31, 2015: Signed 1st round picks Kristaps Porzingis and Jerian Grant.
February 6, 2016: Fired coach Derek Fisher.
March 16, 2016: Signed PG Tony Wroten to three year deal.
A trend that I have noticed is that Phil has not been afraid to sell off mid-lower tiered assets for 2nd round picks, as he has begun to stock up on those. Unfortunately, the team does not have many trading chips at this moment in time, as the only one I can think of that would fit the bill would be Kyle O'Quinn. The Knicks could likely get a 2nd rounder for O'Quinn, who averaged 4.8 PPG and 3.8 REB off the bench this past season.
Now let's take a look at the current financial details for the Knicks this summer.
Guaranteed Contracts: Carmelo Anthony, Jose Calderon, Jerian Grant, Robin Lopez, Kyle O'Quinn, Tony Wroten, Kristaps Porzingis.
Potential Free Agents: Arron Afflalo (Player Option), Lou Amundson (Unrestricted), Cleanthony Early (Restricted), Langston Galloway (Restricted), Kevin Seraphin (Unrestricted), Lance Thomas (Unrestricted), Sasha Vujacic (Unrestricted), Derrick Williams (Player Option).
1st Round Draft Picks: None
Max. Cap Space: Approximately $30 million.
Min. Cap Space: Approximately $28 million.
Team Needs
Point Guard
The Knicks do not have an experienced playmaker on their roster, and seem unwilling to give former 1st rounder Jerian Grant the starting gig, so they will likely be in the market for someone who can properly control the offense.
Options: Mike Conley, Rajon Rondo (Unlikely), Brandon Jennings, Norris Cole.
Shooting Guard
With Arron Afflalo likely leaving in free agency, the Knicks will look to upgrade a position that has been filled by several in the past couple seasons. This area will probably be where the Knicks splurge their money, as there are a decent amount of available players.
Options: Courtney Lee, Kent Bazemore, Evan Fournier, Gerald Green, Jamal Crawford, Allen Crabbe.
It is expected that we will see several low-risk signings by Jackson and Co. this off-season in hopes that someone sticks. The Knicks do have the assets to bring in a mid-tiered free agent or two, but they first must decide on the direction of the franchise. That all lies on whether or not Carmelo Anthony will return, and because of his no-trade clause, it seems likely that we see him in New York again next season.
I think Knicks fans are realistic with this team moving forward. They seem to understand that it is a process, but what Jackson needs to do is come right out and give fans a definitive answer on the Anthony debacle. Once he does that, he can divert his attention to either buying into the draft next month, or scouting potentially available players in this year's off-season.