When the Pelicans waived Matt Ryan during the preseason, it was a question of when another NBA team would snap up the sharpshooter, not if.
The when is Nov. 4 and the who is the New York Knicks, a story broken by Michael Scotto of HoopsHype and confirmed by Shams Charania of ESPN and multiple other reporters.
This is likely a non-guaranteed minimum contract deal, which would get the Knicks to the required minimum of 14 roster players before the deadline (more on that below). If it is non-guaranteed, the Knicks could waive Ryan once Landry Shamet gets healthy following his shoulder surgery, then re-sign Ryan on a two-way contract, something Ian Begley of SNY.TV suggested.
Ryan, a White Plains, New York native, brings one elite skill to the table: Shooting. Ryan shot 45.1% from 3 in 28 games for the Pelicans last season, and for his career, he has taken almost 80% of his shot attempts from beyond the arc and has hit 41.1% of them. He has also played for the Celtics, Lakers and Timberwolves in his career.
This move, along with the Knicks converting Ariel Hukporti to a standard rookie contract from a two-way deal, these are moves the franchise was required to make this week. Before the season started, the Knicks waived Landry Shamet, Chuma Okeke and T.J. Warren, bringing their roster down to 12 players. The NBA CBA requires teams to carry 14, and the Knicks had until Nov. 5 to get up to that number. The challenge was the Knicks are also hard-caped at the second tax apron and had only $3.58 million left below that line. That left the Knicks just enough room to convert Hukporti and sign Ryan.
If the Knicks sign Ariel Hukporti to a rookie minimum deal and X (Matt Ryan?) to a veteran minimum deal tomorrow, November 5, they'll be just shy of $596K under the second apron.
— Keith Smith (@KeithSmithNBA) November 4, 2024
That's enough room to sign a second prorated veteran minimum deal on February 24 for the 15th spot.