The New York Knicks created more than $ 40 million in salary space on Thursday, parting ways with six veteran players.
The Knicks have announced that they have given up on Taj Gibson and bodyguards Elfried Payton and Wayne Ellington and have given up the $ 15.75 million team option under Bobby Portis.
Gibson was to earn $ 9.45 million in 2020-21, while Peyton and Ellington were to earn $ 8 million each.
Gibson, Peyton and Ellington will each earn $ 1 million in guaranteed money from their deals with the Knicks, even though they have been turned down.
New York also turned down a $ 1.7 million option for Theo Pinson’s deal and gave up Kenny Wooten, who was on a two-way contract.
The Knicks signed with Gibson, Peyton, Ellington and Portis in June 2019 after failing to land high-ranking free agents this summer, including current Brooklyn Nets teammates Kevin Durant and Kyrie Irving.