New York Knicks Cap Sheet 2026-27

A Team that engages in a transaction set forth in the Transaction Restrictions Table may not, for the remainder of such Salary Cap Year, have an Apron Team Salary that exceeds the Applicable Apron Level that corresponds with such transaction in the table.

Article VII, Section 2(e)(2)(i)(B), p. 187. Paraphrase (not CBA text): Once a team makes a listed transaction, it cannot exceed that apron for the rest of that cap year. This is what is commonly called being hard-capped.

For each subsequent Salary Cap Year, the First Apron Level shall equal the First Apron Level for the 2023-24 Salary Cap Year multiplied by a fraction, the numerator of which is the Salary Cap for the applicable Salary Cap Year and the denominator of which is the Salary Cap for the 2023-24 Salary Cap Year.

Article VII, Section 2(a)(4)(iii)(A), p. 171. Paraphrase (not CBA text): After 2023-24 the first apron moves in proportion to the salary cap: the 2023-24 first apron times (this season's cap ÷ the 2023-24 cap).

For each subsequent Salary Cap Year, the Second Apron Level shall equal the Second Apron Level for the 2023-24 Salary Cap Year multiplied by a fraction, the numerator of which is the Salary Cap for the applicable Salary Cap Year and the denominator of which is the Salary Cap for the 2023-24 Salary Cap Year.

Article VII, Section 2(a)(4)(iii)(B), p. 171. Paraphrase (not CBA text): After 2023-24 the second apron moves in proportion to the salary cap: the 2023-24 second apron times (this season's cap ÷ the 2023-24 cap).

A Team’s Team Salary may not exceed the Salary Cap at any time unless the Team is using one of the Exceptions set forth in Section 6 below.

Article VII, Section 2(b)(1), p. 176. Paraphrase (not CBA text): A team may not be over the cap unless it is using one of the Section 6 exceptions.

“Room” means the extent to which: (i) a Team’s then-current Team Salary is less than the Salary Cap; or (ii) a Team is entitled to use one of the Salary Cap Exceptions set forth in Article VII, Sections 6(c), (d), (e), (f), (g), and (j) (Disabled Player Exception, Bi-annual Exception, Non-Taxpayer Mid-Level Salary Exception, Taxpayer Mid-Level Salary Exception, Mid-Level Salary Exception for Room Teams, and Traded Player Exception).

Article I, Section 1(kkk), p. 9. Paraphrase (not CBA text): “Room” means either how far Team Salary is under the cap, or the right to use one of the listed exceptions.

until a Team’s Veteran Free Agent re-signs with his Team, signs with another NBA Team, or is renounced, he will be included in his Prior Team’s Team Salary at one of the following amounts (“Free Agent Amounts”):

Article VII, Section 4(d), p. 217. Paraphrase (not CBA text): A team's own free agent keeps counting against its Team Salary (the “Free Agent Amount”, commonly called a cap hold) until he re-signs, signs elsewhere or is renounced.

“Option” means an option in a Player Contract in favor of a Team or player to extend such Contract beyond its stated term.

Article I, Section 1(ss), p. 6. Paraphrase (not CBA text): An option lets a team or a player extend the contract beyond its stated term.

Any ETO must be exercised by 5:00 p.m. eastern time on the June 29 immediately prior to the Effective Season of such ETO. Any Option must be exercised by 5:00 p.m. eastern time on the June 29 immediately prior to the Season covered by the Option, except that an Option in favor of a player who would become a Restricted Free Agent if the Option were not exercised must be exercised prior to the June 25 immediately prior to the Season covered by such Option.

Article XII, Section 4, p. 338. Paraphrase (not CBA text): Options and early termination options must be exercised by 5:00 p.m. ET on June 29 before the season they cover; a player option that would otherwise leave the player a restricted free agent must be exercised before June 25.