The Knicks are exercising their team option on center Ariel Hukporti while declining the option for veteran PJ Tucker, reducing payroll by $3.5 million. This gives them flexibility to utilize the $5.6M taxpayer exception for sign-and-trade options and pursue free agents like Landry Shamet, who performed well in the postseason, and they also extended a qualifying offer to Kevin McCullar Jr..
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