Knicks waive center Noah, still owe him $38M

The New York Knicks released center Joakin Noah on Saturday, using the NBA's stretch provision to lessen the salary-cap hit of the $38 million still owed to him.

Former team president Phil Jackson signed Noah to a four-year, $72 million contract in 2016, a move that didn't bring the Knicks much of a return on their investment. In his two seasons in New York, Noah played in just 53 games (46 starts) and averaged 4.6 points and 7.9 rebounds in 19.9 minutes per game.

It was a foregone conclusion that he wouldn't be part of the 2018-19 roster, but the team wanted to trade him or reach an agreement on an buyout. The Daily News reported the team waived him outright, meaning he gave up no money in a buyout.

By using the stretch provision, the Knicks will add about $13 million in cap space to sign free agents next summer, according to the newspaper. They will be playing Noah $6.4 million a year until 2022, however.

Noah, 33, didn't report to training camp and hasn't been with the team since late January, when an altercation with former coach Jeff Hornacek effectively exiled him from the team. He appeared in just seven games with the Knicks last season, coming off the bench.

He played the first nine seasons of his career with the Chicago Bulls and made two All-Star teams. He was the 2013-14 Defensive Player of the Year and a first-team All-NBA selection. When he became a free agent after the 2015-16 season, he chose to sign with his hometown Knicks, spurning other offers.

The Knicks also announced Saturday that they waived guard Kadeem Allen, signed in July, and forward Jeff Coby, who signed a training camp deal in September. —Field Level Media/Reuters