Earlier this afternoon, arbitrator Kenneth Damn, who was brought in to determine if the Knicks held the early bird-rights for Jeremy Lin and Steve Novak, ruled in the Knicks’ favor. Now, after this ruling, the Knicks will be able to re-sign Jeremy Lin and Steve Novak – without affecting the salary cap – WHILE retaining their mid-level exception (MLE).
Even though the Knicks won the initial ruling, the NBA will appeal the arbitrator’s ruling. Even though there is potential for a reversal, this is a huge, huge win for the Knicks. Now they will bring back two key players and have their MLE to pitch potential free-agents.