Frank Franklin II/Associated Press
By SI Wire
July 09, 2014

Free agent forward Carmelo Anthony is still holding out hope that fellow free agent LeBron James could team up with him on the Knicks next season, according to a report from Marc Berman of the New York Post

In order for that to happen, New York will need to trim salary in a hurry, notably the contracts of Amar’e Stoudemire and Andrea Bargnani, who both have expiring deals this season. 

According to the report, the Knicks have talked to the Philadelphia 76ers about taking on expiring contracts.

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Stoudemire is on the books for $23,410,988 this season, while Bargnani will make $11.5 million in 2014-15. The Knicks currently are about $3 million over the salary cap and could approach the luxury tax threshold of $77 million depending on the moves they make this offseason.

More from the New York Post:

According to a friend of Anthony’s, Melo has held out faint hope Knicks president Phil Jackson can pull a miracle and clear out the necessary salary-cap space to get it done, but he is running out of time.  Iman Shumpert might have to be dealt, and the rights to Jeremy Tyler renounced.

-Scooby Axson

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