New York receives
PG Derrick Rose
SG Justin Holiday
2017 second-round pick
THE THOUGHT PROCESS
With a below-average market for free-agent point guards, New York fills a position of need with Rose, a former All-Star and league MVP.
Although Rose has missed parts of the past four seasons with various injuries, when healthy he is still a top-15 point guard.
New York can now use cap space in free agency to get more athletic at the wings.
There is no risk associated with New York in making a trade like this.
Since tearing his ACL in a playoff game in 2012, Rose has been a shell of his former self.
Chicago acquires Calderon, who can start if needed, and Grant, who can handle backup minutes.
Although Lopez has three additional years left on his contract, there is value because of the rise of the salary cap this summer and in the future.
ROSTER AND SALARY CAP IMPACT
New York has six players under contract, including the non-guaranteed contract for Tony Wroten.
New York will have $12 million in cap space before the free-agent cap holds are addressed.
Leaving the two holds would give New York $30 million in room to address needs in free agency.
New York gains additional flexibility in 2017 by trading the remaining three years left on Lopez’s contract.
The expiring contract of Derrick Rose will give the Knicks $29 million in cap space in 2017.
The room can increase to $51 million if Rose’s free-agent hold is released.
The trade is cap neutral for Chicago.
Chicago has 10 guaranteed contracts, not including its own first-round pick and the non-guaranteed contracts of Spencer Dinwiddie and Cristiano Felicio.
The Bulls will not have cap space until a decision is made on Gasol and Noah. If both players are renounced, Chicago will have $16 million.
The Bulls will lose $13 million in cap space next summer with the addition of Lopez.
However, Chicago, with only $34 million in guaranteed contracts, will gain additional flexibility based on the $56 million in free-agent cap holds.
The players in the deal cannot be traded with another player for two months from the date of the trade. They can be traded by themselves, but only to a team with cap space as long as the deal does not combine them with another player.
Rose will enter the final year of a $94 million rookie extension signed in 2011.
Rose’s cap hit for New York in 2016-17 will be $21,323,252.
Although Rose had a 15 percent trade bonus, being traded before July 1 will void the bonus.
New York saves $3 million in cap space by making the trade before July.
New York and Rose cannot extend the contract until six months from the day of trade.
Calderon will be in the final year of his contract.
Calderon’s cap hit for 2016-17 is $7,708,427.
Holiday will be in the final year of his contract.
Holiday’s cap hit for 2016-17 is $1,015,696.
Jerian Grant will be in the second year of his rookie-scale contract.
Grant’s cap hit for 2016-17 is $1,643,040.
Grant has a $50,000 bonus for summer league.
Chicago has until Oct. 31 to pick up the third-year option in Grant’s contract.
Lopez is in the second year of a $54 million contract signed last July.
The cap hit for 2016-17 is $13,219,250, and Lopez is owed $13,788,500 in 2017-18 and $14,357,750 in 2018-19.
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