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Why the Tim Hardaway Jr. signing is a bad basketball and financial decision

On March 6, 2017 - The Medium published this article on the cost per point and cost per minute of the top 25 players in the NBA.  For those of you who have not seen it, you can check it out in the link below.

Today on July 9, 2017 - The New York Knicks signed Tim Hardaway Jr. to a 4 year - $71 million dollar contract.

I like Tim Hardaway.  I like Tim Hardaway Jr.  I think they are both good players, and the latter has the opportunity to be a good role player on a decent team.  However, this contract is outrageous and will set the New York Knicks back even further than where they are now.

I understand that basketball contracts have exploded since last year.  But, dollar for dollar this is a bad signing and the cost of this contract is going to transfer over to the next leadership team for the Knicks, and cause them to shed salary, waste time, and perpetuate their cycle of constantly rebuilding.

So lets look at the numbers for a second.  I'm going to simplify things a bit, such as distribute his salary evenly across the 4 years.  Typically basketball contracts increase as the years go on, but for the sake of this mental exercise we are going to do an even distribution.

At $71,000,000 for 4 years that is $17,750,000 per year.

Hardaway averaged 14.5 points per game last year, and let's assume he does the same this year.  Lets also assume he plays all 82 games, thus he'll score 1189 points this year.

The cost of this year divided by the points scored is $17,750,000/1189 = $14,928 per point.

According to the article by Medium, Tim Hardaway costs more per point than:

Kawhi Leonard - $12,068 per point
John Wall - $12,880 per point
Klay Thompson - $12,956 per point
Kyrie Irving - $13,065 per point
Jimmy Butler - $13,169 per point
Russell Westbrook - $13,504 per point
Anthony Davis - $13,522 per point
James Harden - $14,627 per point (although this may no longer be applicable since he just signed an extension)

That is insane!!  Why would the Knicks do this?  There is literally no benefit to this signing as Hardaway is not an outstanding player, or a cost-efficient player.  Furthermore, he does not carry star power so he is not going to add value to your franchise in that capacity either.

The cost for the player at his current and expected production just doesn't justify the cost.  Furthermore, we are assuming he is as productive as he was in Atlanta, which may not be the case.  Also we assume that he won't be injured or miss any games.  For these reasons this is why I think this is a bad signing.

What are your thoughts?

I'd love to hear your thoughts in the matter, comments, or feedback, please feel free to write in the comments section.

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