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Carmelo Anthony Pay Cut For Future New York Knicks Salary Cap Wiggle, Phil Jackson Has Room

Carmelo Anthony signed a deal with the New York Knicks on Sunday. Anthony will stay in New York for another five years to the tune of $124 million dollars, $5 million less than the maximum salary he was eligible to receive. He took the pay cut to give General Manager Phil Jackson some wiggle room in the salary cap. The thinking, obviously, is that taking Melo's contract at a discount will allow the Knicks to spend some money to attract a championship contending team around him in the near future.

Even though Melo has played close to the vest during negotiations, he says building a strong team is his first priority (via ESPN):

"'Without a doubt,' Anthony said while in New Orleans for All-Star Weekend. 'Any opportunity I have to build that up in New York, I'd do it. I told people all the time, always say, "If it takes me taking a pay cut, I'll be the first one on [Knicks owner] Mr. [James] Dolan's steps saying take my money and let's build something strong over here."'"

Meanwhile, GM Phil Jackson is pleased as punch to have some extra cash to go after some additional talent. After losing his first choice for head coach Jackson must be proud to at least retain their star player, hopefully transforming him into a franchise player in the process (via New York Post):

"'He did exactly what we kind of asked him to do,' Jackson said. 'Give us a break in the early part of the contract when we have some wiggle room - hopefully big enough wiggle room - next year when we can exploit it.'''

So, with Derek Fisher on the bench, Anthony in the fold and money in the bank, the Knicks might be on the verge of becoming a perennial contender again.

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