why does it seem like teams are bending over backwards to bail the Knicks out?
I mean, sure it helps NY, but they're in such a bad spot, it doesn't help them all that much.
If they made this trade, they still wouldn't have any effective cap room. They'd technically have about $5.2 million if they renounced the mid-level exception and the bi-annual exception, but since the mid-level is $5.3 million, that wouldn't really get them very far. They could waive Dalembert, who's partially guaranteed, clearing up another $2 million, but that would still only give them $7 million in cap room, and one more hole in the roster to fill.
What this deal would do is help NY avoid the luxury tax, and give them access to the full MLE instead of the taxpayer MLE, at the cost of Shumpert. Yes, it probably helps NY, but not in a way that allows them to make a quick turnaround this offseason if Melo stays.
Note: I'm assuming the Knicks already have waived or will waive their other non-guaranteed contracts, such as Odom and Shannon Brown. If they keep those players, then even waiving Dalembert doesn't afford them cap room.