As expected, the Knicks announced they exercised their third-year option on guard Frank Ntilikina, while the team will pass on extending Kristaps Porzingis’ rookie contract before Monday’s 6 p.m. deadline.
Porzingis will now become a restricted free agent after this season. The Knicks can match any offer made to their franchise forward, and waiting to extend him until the summer will allow the Knicks to save $10 million, increasing their odds of adding another max contract.
Ntilikina, who will make $4.9 million next season, remains in consideration to be the Knicks’ starting point guard in Wednesday’s opener against the Hawks.