Basically, there are two reports right now. In the first report, Raymond Felton will make ~$10 million over three-years, and in the second report, he will made ~$14 million over four-years. The actually contract numbers have yet to surface, but I’ll outline how each offer comes to fruition.
UPDATE: Thanks to some clarification from Mark Deeks, the minim in salary exception will not be applicable to Thomas’ deal, since it only applies to one-year deals. Thomas has one-year remaining, but was not a one-year deal.
Contract one: Three-years, ~$9 million.
The Knicks sent out Dan Gadzuric and his $1,352,181 non-guarenteed salary, as well as Jared Jeffries* and his $1,352,181 salary, allowing New York to take back $4,156,543 in first year salary. Kurt Thomas is set to make the veteran’s minimum this year. So, by taking Thomas’ contract away from the maximum first year salary of $4,156,543, Raymond Felton will be left with $2,804,362 in year one. Then, applying 4.5% annual raises, Felton will make $2,930,558.29 in year two and $3,062,433.41 in year three. Felton’s contract could total three-years, $8,797,353.70.
Contract two: Jeffries makes more.
This was reported by Mark Deeks of ShamSports. Again, the Knicks would send out Dan Gadzuric and his $1,352,181 non-guarenteed salary, but this time pay Jared Jeffries $1,475,106. This would leave Raymond Felton to make $2,988,749.5 in year one, $3,123,243.23 in year two, $3,263,789.17 in year three, and a player option of $3,410,669.69 in year four. The contract would total $14,488,271.79 over four years. In this reported deal, the fourth-year of Felton’s deal would be an option. A three-year deal where Jeffries makes $1.475 million would pay Felton $9,375,781.9.
Only time will tell what Felton will make…