Latrell Sprewell and his Atlanta-based agent Robert Gist met last night in Westchester in an attempt to reach a final decision on whether to accept the long-term, five-year contract-extension offer from the Knicks or the risk-laden short-term, two-year deal.
Sprewell said after yesterday’s practice at Purchase College he hopes to tell the Knicks of his decision before tonight’s exhibition game against the Sixers at the Garden.
It is expected Sprewell will opt for the safety net of a long-term offer -a five-year package worth $61.87 million, the maximum length and dollars for a contract extension under the new CBA.
The Post has learned that another scenario could unfold today in which Spree accepts a four-year deal with his option on a fifth year. That way Sprewell has the choice of terminating the deal after four years but has the security of a five-year deal if he chooses.
That would be a compromise, but it is one scenario the Knicks didn’t offer Spree during Saturday’s meeting in Buffalo. The Sprewell camp would have to ask the Knicks if such a package is possible. Garden president Dave Checketts would likely have little problem with it considering he has been extremely flexible in offering Spree the maximum while allowing him to choose the length.
Spree didn’t indicate which way he was leaning yesterday but said of the two-year scenario: “It could be a risk. Do you want to take that risk, roll the dice and take that chance or just have something in place and be happy with it? It’s a tough call.”
Sprewell had been considering signing a two-year extension worth $21.37 million that would make him a 10-year veteran upon its expiration. That would put him in position to earn higher maximums on a future deal but also is one that Sprewell appears reluctant to do because he would be leaving $40 million worth of guaranteed money on the table.
However, as a 10-year veteran in 2002-2003, Sprewell could be eligible to make between $14 million and $17 million annually to start his next contract, depending upon the size of the salary cap. (In contrast, his annual wage would be $12.3 million that same season on a five-year deal).
Gist flew into New York yesterday morning and had a three-hour meeting with one of the Players’ Association attorneys, Ron Klempner, to discuss all the scenarios.
Clearly, Spree wants this to be a done deal today. Asked if it’s been a distraction, Sprewell said, “On a scale of 1-to-10, it’s probably a 10. I think it’s a distraction and to have it out of the way would be better.”
Sprewell makes $9 million this season. The first year of his five-year extension would start at $10.1M. The last year would be $14.6M. The average salary would be $12.37M.
Last night, Spree didn’t return phone calls left at the White Plains hotel he’s staying at and lived in last season. Maybe after he signs, Spree will move into Allan Houston’s neighborhood in Greenwich.