Back in February Zach Lowe reported that teams were using an estimate of $92 million for next season's salary cap instead of the initial $89 million projection. With the summer free agency period rapidly approaching, we now know both the salary cap and luxury tax amounts, per USA Today:
The projected salary cap and luxury tax amounts for the 2016-17 NBA season will be $92 million and $111 million, according to a league memo sent to team executives, and those figures were relayed to USA TODAY Sports by multiple people.
Right now the Knicks are projected to have $68.