I just watched a podcast that broke it down. The cap specialist for the Knicks is a genius. The series of moves during the draft made it possible to re-sign IHart. The Knicks were smart with how certain players received descending contracts (Brunson & Robinson), and others had ascending contracts like OG. IHart could accept a contract like OG where the first year is team-friendly, and after that, IHart would start to see an increase in pay to his satisfaction. It could go like this: year one-$16 million; year two-$18 million; year three-$20 million; and year four-$22 million. You get around the limitation of only being able to pay IHart $16 million a year for four years ($72 million). This gives the Knicks a chance to be competitive with OKC and Orlando and time to address the next set of contracts for the following year. This is why the Knicks loaded up on 2nd-round picks to fill out the roster without breaking the bank. If IHart accepts the deal, it would put the Knicks in a position to stay under the second apron. Current contract guaranteed (with IHart signing & including 2nd-round roster fillers)-$189,055,997. The second apron is $189,486,000. Again, that leaves about $430,000 under.
Pretty sure they still can't go above the $72.5 total contract. All the moves last night were to get to a point where they would be able to offer that $16.2M number for the first year. They weren't able to do that as of yesterday morning.
From an article on sportingnews.com:
Because the Knicks only have Hartenstein's Early Bird Rights, they are already limited in what they can offer Hartenstein on a new contract. The Knicks can only offer Hartenstein a starting salary of about $16.2 million for 2024-25 and a max of four years, $72.5 million. Teams with cap space can offer Hartenstein significantly more.
If the Knicks are a first apron team, they wouldn't even be able to offer that $16 million starting salary for Hartenstein, almost surely taking them out of the running to re-sign the breakout big man.
Indeed, the Knicks' hopes of re-signing Hartenstein already hinged on him taking a discount. It seemed feasible for $72.5 million; it won't be if the Knicks can't even offer that much.
However, by trading one first-round pick and taking Dadiet, who some project as a "draft-and-stash" prospect, the Knicks might have saved about $3 million, according to SNY's Ian Begley. It may not seem like much, but every dollar counts if the Knicks want to retain their starting center.
(Dadiet, in his post-draft press conference, said he intends to come to the NBA next season and not stay in Europe, according to Kristian Winfield of The New York Daily News).
Now, the Knicks' big hurdle is to find a way to add money to the Bridges trade, which has not been complete yet and which could move the Knicks from a first apron team to a second apron team. If they become a second apron team, their spending ceiling increases, and they will have more available money to offer Hartenstein their max.
The New York Knicks started the NBA Draft with two first-round picks, but swung several deals that saved them money.
www.sportingnews.com