By Marc Berman of the New York Post
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J.R. Smith has until June 26, two days before the NBA Draft, to give the Knicks notice on opting out of the final year of his contract worth $2.5 million, according to an NBA source.
If he doesn’t exercise the opt-out clause, Smith will be a Knick next season and could get a long-term deal with the club after next season. Because Steve Novak is a good bet to depart, the Knicks want Smith back as a sixth man — and possibly to play some point guard despite his wretched shotmaking in the Knicks’ five-game first-round knockout by the Heat.
Smith shot 3-of-15 in the elimination game and was 31.6 percent for the series — 17 percent from 3-point land (5-of-28).
Knicks general manager Glen Grunwald is hopeful Smith doesn’t exercise the opt-out and a source said he is leaning toward staying put with the marketplace squeezed for the middle class of free agents in the new CBA.
