Knicks Make Another Signing! Double Insurance Deal Highlights an Eventful Summer for New York

As the NBA regular season looms just 40 days away, the New York Knicks have added yet another piece to their roster, further solidifying their ambitions for a deep playoff run. Their latest acquisition, Landry Shamet, arrives on a one-year, non-guaranteed contract that includes an Exhibit 9 clause. This strategic move is part of the Knicks’ offseason overhaul, marking their sixth major operation of the summer.

What Is an Exhibit 9 Clause?

For the uninitiated, the Exhibit 9 clause is a special provision that NBA teams use to minimize risk when signing non-guaranteed contracts. Normally, if a player with a non-guaranteed contract gets injured during the season, their contract is converted into a fully guaranteed deal, covering the player’s salary until they recover or the season ends. However, with Exhibit 9, if the player sustains an injury, the team is only liable for a one-time payment of $15,000. The player can then be waived without their contract counting against the team’s salary cap.

This setup allows the Knicks to hedge their bets on Shamet, who has struggled in recent seasons. If he performs well, his contract becomes guaranteed by January, but if his output doesn’t meet expectations, the Knicks can move on with minimal financial repercussions. The addition of this clause also helps mitigate injury concerns, as Shamet has missed 78 games over the past two seasons due to various ailments.

Shamet’s Journey So Far

Landry Shamet entered the NBA as a first-round pick (26th overall) in the 2018 draft, but his career hasn’t exactly been filled with highlight-reel moments. However, he has built a reputation as a sharpshooter, largely due to his experience playing alongside some of the league’s biggest stars. Over the course of his career, Shamet has shared the court with the likes of Joel Embiid, Jimmy Butler, Ben Simmons (pre-injury), Kawhi Leonard, Paul George, Kevin Durant, Kyrie Irving, James Harden, Chris Paul, and Devin Booker. His shooting prowess has kept him relevant, and his association with these high-profile players has kept his name in the NBA conversation.

Shamet’s ability to knock down threes was highly valued at one point. In the 2021 offseason, after being traded to the Phoenix Suns, the team signed him to a four-year, $43 million contract. This extension came during a period when shooters were in high demand, as evidenced by other sizable contracts handed out to players like Joe Harris, Davis Bertans, and Duncan Robinson. But as it turns out, that contract hasn’t quite lived up to expectations.

Underperforming in Phoenix

In his two seasons with the Suns (2021-2023), Shamet averaged just 8.4 points per game. While his three-point shooting remained respectable at 37.1% (1.7 threes per game), his overall efficiency was subpar. His field goal percentage hovered at 38.7%, and his true shooting percentage was a modest 54.5%. His inability to finish at the rim or contribute from mid-range hurt his offensive versatility, making him more of a one-dimensional player.

Shamet’s defensive limitations also became a liability in the postseason. In two playoff runs with the Suns, he averaged just 4.5 points per game while shooting 36.4% from beyond the arc. His minutes were cut as opposing teams exploited his defensive weaknesses, and his impact on the court dwindled.

A Low Point in Washington

The 2023 offseason saw Shamet included in the blockbuster trade that sent Bradley Beal to the Suns and landed Shamet in Washington. His time with the Wizards was far from memorable. He appeared in only 46 games, averaging 15.8 minutes per contest. His stat line was a career-low across the board: 7.1 points, 1.3 rebounds, 1.2 assists, and just 33.8% shooting from three-point range.

Given his lackluster performance and injury history, it wasn’t surprising when the Wizards declined to exercise the final year of his $11 million team option. This made Shamet a free agent, but due to his struggles, no team showed immediate interest, leaving him unsigned until now.

The Knicks’ Approach: A Calculated Gamble

Despite Shamet’s recent dip in form, the Knicks are taking a cautious approach by signing him to a non-guaranteed, minimum contract. This gives the team the flexibility to assess his performance during the early part of the season without locking themselves into a long-term commitment. If Shamet regains his shooting touch and stays healthy, his contract will become fully guaranteed in January. If not, the Knicks can waive him without much financial impact.

This contract also protects the Knicks from the potential downside of Shamet’s injury history. By adding the Exhibit 9 clause, they have ensured that if Shamet were to get injured again, they could release him with only a $15,000 payout, freeing up cap space for other options.

A Steep Fall, but Hope Remains

While Shamet’s trajectory has been downward over the past few seasons, it’s worth noting that he still holds a career three-point shooting average of 38.4%. That kind of shooting ability is always valuable, especially in today’s NBA, where floor spacing is at a premium. Even with his struggles, Shamet remains one of the better available shooters in the free agent market, which is why the Knicks are willing to give him a shot.

Interestingly, Shamet’s career has also been marked by an unusual streak of playoff collapses. From 2020 to 2022, Shamet played for teams (the Clippers, Nets, and Suns) that reached the conference semifinals, only to lose in heartbreaking fashion after leading their series 3-2. These consecutive 3-4 losses came against the Denver Nuggets in 2020, the Milwaukee Bucks in 2021, and the Dallas Mavericks in 2022. While it’s unlikely that Shamet’s presence directly contributed to these collapses, his poor defense and inconsistent shooting in high-pressure situations didn’t help his teams in those critical moments.

How Shamet Fits Into the Knicks’ Plans

The Knicks are not banking on Shamet to be a game-changer for them, especially in the playoffs, but they are giving him a chance to fill a role as a shooter off the bench. Given his contract and past performance, Shamet isn’t likely to be featured in the Knicks’ primary rotation, especially in high-stakes playoff games. However, with a thin market for reliable shooters, he could still be valuable as a floor spacer during the regular season. The Knicks are hoping for a low-risk, high-reward outcome from this deal.

The Knicks’ Offseason Moves: Ambition in Action

Shamet’s signing is just the latest in a busy and ambitious offseason for the Knicks, who have made several moves aimed at building a championship-contending roster. Here’s a breakdown of their key transactions:

1. OG Anunoby Extension: The Knicks locked up one of the league’s best defenders, signing Anunoby to a five-year, $212.5 million extension.

2. Jalen Brunson Extension: Brunson, the team’s star point guard, received a four-year, $156.5 million extension, cementing his role as the team’s leader.

3. Mikal Bridges Trade: In a blockbuster move, the Knicks traded Bojan Bogdanovic and five first-round picks for Mikal Bridges and Keita Bates-Diop. Bridges, coming off a breakout season, adds defensive versatility and scoring punch.

4. Tom Thibodeau’s Extension: The Knicks also committed to head coach Tom Thibodeau, giving him a three-year extension after leading the team to the second round of the playoffs.

5. Cameron Payne Signing: New York added veteran guard Cameron Payne on a one-year minimum deal to provide depth behind Brunson.

6. Landry Shamet Signing: The latest addition to their roster, Shamet signed on a one-year, non-guaranteed contract with the Exhibit 9 clause, giving the Knicks another shooter to add to their rotation.

Familiar Faces in New Places

There’s a notable dynamic on the Knicks roster heading into next season. Mikal Bridges, acquired via trade, has a strong connection with several of his new teammates. Not only did he play with Jalen Brunson, Josh Hart, and Donte DiVincenzo in college, but he also played with Cameron Payne and Landry Shamet during his time with the Phoenix Suns. The familiarity between these players could help accelerate their chemistry on the court, giving the Knicks an edge in what promises to be a highly competitive Eastern Conference.

Looking Ahead: What to Expect from the Knicks in 2024

The Knicks’ projected starting lineup for the upcoming season is set to feature Jalen Brunson, Mikal Bridges, OG Anunoby, Julius Randle, and Mitchell Robinson. Off the bench, they’ll have a strong supporting cast in Josh Hart, Donte DiVincenzo, Miles McBride, Precious Achiuwa, Shamet, and Payne. With these additions, the Knicks are clearly aiming to improve on their impressive playoff run from last season.

If they can stay healthy, this Knicks team could potentially challenge the reigning champion Boston Celtics in the East. At the very least, they have positioned themselves as one of the top teams in the conference, and a deep playoff run seems well within reach.