The 5 million part of the contract isn't "nothing" - that's close to what Ariza will be making his first year. However, the one year part is the key - there's no risk for the Knicks. They're bringing back a fan favorite and will still have just as much room next year to spend on FA's. The 5 million in this case doesn't hurt them at all.
i've been thinking the same thing. you can talk about the dunk contest, or his hight, or whatever else makes you not like him... he produces. now, albeit on a crap team with a fast pace. his numbers are definitely inflated so $5M isn't a bargain because he wouldn't put up those numbers if surrounded by decent talent, or in a half court system. however, i'd say just below the MLE is spot on for him.
True with the numbers He averaged. Its a bit of a surprise that no other team offered him except for that European team. You would think that He would at least get an offer better then the Knicks' one year deal.
I think the Greek team overoffered and the Knicks overpaid.. there's alot remaining FA's who are more valuable than Nate.