The Knicks and Immanuel Quickley failed to reach a contract extension agreement by the deadline. What does that mean for his future in New York?
Immanuel Quickley is one of the main reasons you watch a Knicks game. The energy he brings on the court blends well with the roars of Madison Square Garden. He shows up for work every day like the average New Yorker. And he’s a homegrown talent who makes everyone better every year, including himself.
The 2023 runner-up for Sixth Man of the Year is an excellent defender, a capable playmaker, and an ever-improving scorer. Per Cleaning the Glass, the on/off numbers in Quickley’s first three seasons are as follows: +8.1 in 2020-21 (89th percentile in the NBA), +12.2 in 21-22 (96th percentile), and +8.5 in 22-23 (91st percentile). In the same three years, StatMuse lists Quickley as the Knicks’ leader in total plus/minus with a +747. Derrick Rose is second with a +267.
You would think a 24-year-old player so impactful, who has shown clear signs of improvement every season—in defensive awareness, strength, decision-making, and finishing inside the arc—would be a no-brainer keeper. And yet, the Knicks couldn’t come to an agreement with Quickley by the October 16 extension deadline.
Several other players from the 2020 draft locked in extensions with their teams, from Cole Anthony (3-year, $39 million) to Tyrese Halliburton (5-year, $260 million). Immanuel Quickley’s value is somewhere in between, but unfortunately, his reps and the Knicks couldn’t agree on which way he leans. So now, Immanuel Quickley will become a restricted free agent next summer.
The NBA’s new cap restrictions, detailed in a previous KFTV article about the CBA, make this dilemma even more tricky. Quickley can sign a max extension for five years, $207 million. A $40+ million AAV deal for a bench player is not only inconceivably pricy, but any deal around that cost would obliterate the Knicks’ financial flexibility.
Excluding Evan Fournier and Quickley, the Knicks are set to spend about $130 million on the roster in 2024-25. At this point, next year’s cap space is projected to be about $142 million, placing the first tax apron around $150 million and the second apron around $160 million.
These numbers could fluctuate, but generally, if Immanuel Quickley’s extension were to cross $20 million in the first year, New York would have trouble filling out the rest of the roster while facing restrictions with sign-and-trades, aggregating player salaries in deals, and the mid-level exception. A team going star-hunting needs all the flexibility it can get. Is Immanuel Quickley worth the penny-pinching?
The decision made about Quickley’s future will be a critical inflection point for the franchise. Leon Rose has eight months to balance checkbooks and choose a route to take. There are three ways this saga can end:
1. The Knicks extend Immanuel Quickley next offseason
There’s a good chance that all the hoopla could be for nothing, and the Knicks and Quickley find common ground during the offseason. That would make this season an incredibly crucial year for the guard to prove his value. While the starting spots are locked up, the closing lineup remains in flux. The leader in fourth quarter minutes last year could earn that title again on his way to a raise from New York.
The CBA still looms over this decision, but a lot can happen in eight months. If the Knicks want to use their picks to make an upgrade, maybe it’s another young player or two that gets moved in a big deal. That way, Quickley’s contract becomes the last piece of the puzzle to put the Knicks in title contention.
2. Another team makes Quickley an offer
I can only assume that the Knicks have their ear to the streets and are confident other teams won’t make competitive offers that entice Quickley and his agent, Raymond Brothers. The front office is shooting over .500 percent from the field, so they have earned that trust.
But Quickley’s fate lies, largely, in his own hands (and Coach Tom Thibodeau’s, who proclaimed himself as an ‘IQ guy’). If the Sixth Man of the Year candidate takes yet another leap from a stellar 2022-23 season, a franchise or two might offer starter-money. And then, it’s up to Leon Rose to pick his poison.
Which teams would have the cap space and the interest in a young, still unproven lead guard? Fred Katz of The Athletic mentioned the Orlando Magic, Utah Jazz, Philadelphia 76ers, and San Antonio Spurs as potential landing spots in his recent article. Here’s some commentary on those and a few other options:
Orlando Magic: Quickley fits their timeline and their need for guard play, although they just extended Cole Anthony, drafted Anthony Black and Jett Howard, and have decisions to make on Markelle Fultz (free agent in 2024) and Jalen Suggs (we don’t know if he’s good or not).
Utah Jazz: Similar to the Magic, they are younger and in need of a lead guard. Rookie Keyonte George could answer the call before the season’s end, though.
San Antonio Spurs: They passed up on Austin Reaves and have opted to run the 6’9” Jeremy Sochan at point guard. If that choice doesn’t satisfy them, they could be the Knicks’ biggest competitors. Quickley with Sochan, Devin Vassell, Keldon Johnson, and Victor Wembanyama (the French Kevin Durant/Anthony Davis hybrid) would be, above all else, fun.
Philadelphia 76ers: Reuniting with Tyrese Maxey would be fun, but it’s more likely Quickley ends up there with a couple of other Knicks against his will.
Toronto Raptors: A lowkey competitor with a petty general manager, the Raptors could decide to move on from Pascal Siakam and OG Anunony to start a rebuild. They could free up money and pair Quickley with Scottie Barnes. At the very least, I’m sure Masai Ujiri wouldn’t mind forcing the Knicks into a pricy ultimatum by making the restricted free agent an offer.
Chicago Bulls: Like Toronto, it’s time for Chicago to escape true NBA purgatory. Zach LaVine’s 50-point performances would look better elsewhere, as would DeMar DeRozan’s foul-baiting. With or without Lonzo Ball, Quickley would have plenty of opportunity to make a name for himself and wreak havoc on New York four times a year.
Of course, crazy things happen every season, and teams can flip from contenders to rebuilders in a second. It’s anyone’s guess who else could make an offer.
3. Quickley is traded either during the season or offseason
Everyone’s favorite fantasy. I have no insider knowledge, but it feels like the Knicks are confident a star will be available in 2024. A fair assumption, considering how often big names move, but a bold Plan A nonetheless.
In any case, it’s hard to imagine New York passing up on yet another All-Star-level player. They have made incremental moves at each of the last three trade deadlines and have probably reached the ceiling of minor improvements. The next move is likely to be the big splash, and it’s more likely to occur over the summer than in mid-February.
Quickley, even on a sign-and-trade contract extension, remains one of the Knicks’ assets. Not to mention, his money, plus a few other Knicks, would near a max salary deal.
Conclusion: A tough bet for Immanuel Quickley
More than anything, we hope Quickley secures the money he deserves—however much money he earns, we hope he’s more than satisfied with it. But betting on yourself doesn’t always work. It will be an uphill battle to prove to the Knicks he’s worth what his reps are asking for.
It’s a poetic shame that Quick faces the same uphill battle that ended Obi Toppin’s Knicks career. Not to the same degree—IQ is much more versatile at the guard position—but the presence of an All-NBA caliber player at this spot puts a cap on his ceiling. (Note: no, they should not start him over Grimes, regardless of who you think is better).
With that said, Immanuel Quickley has survived the rumor mill several times before. 12 months ago, he could’ve been flipped for the right first-round pick. A few months before that, he was almost a Utah Jazz. Not to mention all the other rumors that don’t make the NBA tabloids, either. And let’s not forget the fact that Tom Thibodeau elected to start Elfrid Payton, Derrick Rose, Alec Burks, and Kemba Walker over him. He’s a warrior.
There is a valid critique to have about the franchise’s management and deployment of homegrown talent. But this is not the place nor the time. For now, let’s watch as Immanuel Quickley faces adversity yet again and makes his case for the Brink’s truck, no matter which teams offer it to him.
Stay tuned to KnicksFanTV.com for the latest Knicks news, rumors, and recaps throughout the NBA season. And in case you missed it, check out CP’s interview with legendary Knicks sniper Steve Novak.
