Dolan pays $20M for Jamal’s injury

Link:“Jamal Crawford’s surgically repaired ankle may have cost James Dolan close to $20 million. The Knicks and Steve Francis were working on a buyout early last week, but according to a Knicks source, those plans changed dramatically when Crawford was diagnosed with a stress fracture in his right ankle.”

Francis is scheduled to earn $40 million over the next two years, including his remaining income from this year’s contract. Francis and the Knicks had negotiated a buyout for approximately $30 million. According to a source, Francis was convinced that he could sign for the mid-level exception over the summer to make back the money.

When you factor in the luxury tax, the Knicks would have saved approximately $20 million by releasing Francis.

“Jim gets killed for a lot of things, but you have to give him credit for doing whatever it takes to win,” the source said. “He could have saved a lot of money but he wants to give the team every chance to reach the playoffs.”

As part of the agreement, the Knicks planned to release Francis before March 1 because any player cut after that date is prohibited from being on a playoff roster. The news on Crawford’s injury was announced on Feb. 27.

The buyout talks would explain why the day before the Knicks learned of the severity of Crawford’s injury, Francis hinted that he might have been finished for the season. Francis claimed that a sore right knee would not allow him to play. However, four days later, Francis returned to the court and the next night scored 26 points in a win over Atlanta.

If the Knicks cannot trade Francis during the offseason. they likely will buy out the remaining two years of his contract.