Knicks to decline former MVP’s team option

The Knicks plan to decline Derrick Rose‘s $15,596,339 team option for 2023-24, reports Steve Popper of Newsday (subscriber link).

As Popper writes, Rose was beloved throughout the organization, particularly by head coach Tom Thibodeau, but his on-court role in 2022-23 was virtually non-existent after December, appearing in just one regular season game once 2023 rolled around. Still, the Knicks valued his leadership and the way he handled being benched, and a reunion on a minimum-salary deal is still a possibility if Rose is unable to find an opportunity for more playing time, Popper adds.

New York had until midnight ET to make a decision on Rose’s option, per Popper.

Overall, Rose averaged career lows in points (5.6) and minutes (12.5) per game across 27 contests. He posted a .384/.302/.917 shooting line in his limited opportunities this past season.

Fred Katz of The Athletic confirms the news (Twitter links), noting that it may not have been as obvious a decision as it might appear on the surface. As Katz previously wrote, picking up Rose’s option could have given the Knicks an opportunity to use him as a salary-matching piece in trades, but now that has been eliminated as a possibility.

The 2010-11 league MVP and former No. 1 overall pick will become an unrestricted free agent and able to sign with any team. He was previously linked to the Bulls and Bucks.

The Knicks will now have access to the full mid-level exception in free agency after declining Rose’s option, tweets Ian Begley of SNY.tv.