Given the hyper-inflation that is kicking in this year with the price of gas, food, and consumer goods, now is the time for the Knicks to overspend on a front-loaded contract.
All of the rules about staying under the cap are irrelevant this year because the luxury tax will be paid in inflation dollars that will represent a small percentage of an investment made now. For example, should the Knicks make the playoffs, the inflated profits will help reduce whatever luxury tax penalty in today's dollars the investment might require.
Now, Dolan and the front-office need to be smart enough to make the right move but, for example signing Lee now would be a smart move. If Josh Smith could be had by offering more cash up-front, the Knicks should not hesitate for a second if cash is the grease that makes the deal happen. Or maybe taking on Speedy Claxson's albatross contract.
Dollar inflation changes everything.
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Sunday, July 27, 2008
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