Anthony to officially opt out of his Knicks contract tomorrow

By Anthony Caruso III
Posted: June 22nd, 2014 at 2:34 pm EST

As of this moment, Carmelo Anthony is still a New York Knicks player.

In less than 24 hours, Anthony will become a free agent when he officially opts out of his deal. This move has been expected for quite some time, as Anthony will be one of the top free agents this summer.

Carmelo Anthony (Getty Images)

Carmelo Anthony (Getty Images)

He will officially become a free agent on July 1, then will have to wait until July 7th to officially sign. He will give up $23.5 million for the 2014-15 season.

With Anthony an expected free agent, the Houston Rockets and the Chicago Bulls are considered the favorites. While they are both interested, neither team can add him outright.

Each team has to make moves to add Anthony’s massive contract. The Bulls would have to trade or buyout Carlos Boozer’s contract, and maybe make another move, as well. The Rockets, on the other hand, would have to trade Omar Asik and Jeremy Lin to clear enough space to add Anthony.

While the Rockets and Bulls are the favorites, Anthony can receive more money from the Knicks. In fact, he can accept a five-year, $125 million contract.

Just last summer, Rockets center Dwight Howard sparred a huge contract from the Los Angeles Lakers in the neighborhood of what Anthony can receive. In July, Howard accepted a four-year, $87 million deal with the Rockets, and will be eligible for free agency in 2017.

Howard accepted the Rockets offer because of his friend Chandler Parson. Plus, he said that he was more comfortable in a small market than playing with the Lakers, who is arguably the NBA’s most famous franchise.

Should Anthony sign with Chicago or Houston, he will sign a four-year, $90 million deal.

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