First reported by Marc Stein, New York Knicks’ restricted free-agent Landry Fields and the Tornto Raptors have come to terms on a three-year deal worth ~$20 million. At this time, the deal is a verbal agreement and cannot be signed until July 11th. When the offer-sheet is signed on July 11th, the Knicks will have three-days to match the offer, or will see Fields cross the boarder.
The breakdown of Fields’ deal will likely look like this: $5 million in year one, $5.2 million in year two and $9.8 million – the “poison pill” – in year three.
This deal all but ends the hopes of Steve Nash coming to New York this summer. Unfortunately, it is not possible for a team to match an offer then complete a sign-and-trade, so if the Knicks want to offer Nash more than the $3 million mini mid-level exception, they’ll have to dangle Iman Shumpert or Jeremy Lin. JR Smith could also be sign-and-traded, but only up to $2.8 million in salary.
This was quite a sneaky move by the Raptors and emphazies how much they want Steve Nash. Essentially, the Raptors paid the $20 million for the Knicks to be out of the Nash running.