Allan Houston, There's The Door.....

Related to a previous post, it looks like Allan Houston's days in NY are numbered. Buying out or releasing Allan Houston has never been a real option for the Knicks, since they'd still be on the hook for paying his salary, which would've counted against the salary cap. And since they're far above the salary cap ($103 million payroll - $43 million cap) they have to pay a dollar-for-dollar tax penalty.

However.....

For this summer only, each franchise will be allowed to waive one player without paying the luxury tax on his salary. The provision, first reported by ESPN.com, was confirmed by a league spokesman yesterday.
A team that takes advantage of this feature would still have to pay the player's remaining salary (or a portion of it, if a buyout agreement is reached), and the salary would still count against the team's salary cap.
But the benefits are clear. Houston, a 34-year-old guard, played only 20 games this season because of knee problems and is owed $39.8 million over the next two seasons. Under the dollar-for-dollar luxury tax, the Knicks would have to pay an equal amount to the league. Thus, waiving Houston would save the franchise $39.8 million.

Talk about your no-brainers! So long Allan.....