The New York Knicks are getting rid of several players in order to free up money for free agency that begins on Nov. 20.
The team waived forwards Taj Gibson ($10.29 million) and Kenny Wooten, as well as guards Elfrid Payton ($8 million) and Wayne Ellington, the team announced.
The Knicks also declined forward Bobby Portis’ team option worth $15.7 million and guard Theo Pinson’s team option worth $1.7 million.
The Knicks managed to clear about $40 million in cap space for free agent signings.
The players waived today could however, still be back, but on lesser deals than what they would’ve got.