Once they get rid of Marbury their contracts aren't going to be so terrible. Quentin Richardson should be the only one making way too much money. The only problem might be that they have too many players making a lot of money that they deserve. By deserve, I mean according to NBA standards. Other than Richardson all of their big contracts that aren't expiring are pretty good players. Crawford, Randolph and Curry are all worth what their making on the open market.
After this upcoming season they'll have around 41 million dollars off the books. The crazy thing is that they'll still be only 2 million under the cap (they are 40 million over right now...crazy NBA salary cap). So all that money off the books won't mean anything other than they won't have to pay luxury. They still won't be able to sign players other than their own. I have a feeling the Knicks no matter who's managing the team aren't going to go through a rebuilding period.
I think the smart move for the Knicks is to use Marbury, Jerome James and Nate Robinson's expiring contract and their draft pick if they fall out of the top two to get a superstar if one becomes available (and somebody will). Zach Randolph and Eddy Curry would make a great front court but they are not leading men. If they got a leading man without losing David Lee they'd be pretty good in the East.
But, screw the Knicks, I'm praying that the Wolves finally get some luck and turn up the #1 or #2 pick tonight.