New York Knicks: Five worst free agent signings in team history

Allan Houston

After five impressive seasons with the team during which he averaged 17.7 points per game on 44.8 percent shooting and 39.7 percent on threes, then-Knicks general manager Scott Layden gave Allan Houston a bloated six-year, $100 million (!) contract. The deal made him the highest-paid player in franchise history, and it shortly proved to be a disaster.

Houston unsurprisingly legitimized the contract in its first two years. In 2001 and 2002 (159 games), the former No. 11 overall pick posted 21.4 points per game while shooting 44.1 percent from the floor and over 39 percent on threes. From there, however, it was all downhill.

The next season, Houston’s injury struggles — which unquestionably factored into his rapid demise — began and he played in just 50 games. The 2004-2005 campaign sadly turned out to be the Tennessee product’s last in the NBA after he appeared in just 20 contests and logged 11.9 points per.

Houston didn’t go down without a fight, but his several comeback efforts sadly never panned out. In essence, the Knicks kissed $100 million goodbye for two years worth of All-Star production. The failed contract forced the NBA to set a new precedent which gifted squads the opportunity to release a player and not have his contract count against the luxury tax.

It’s really impossible to refute that this deal set the stage for the Knicks’ extended run of losing and incompetence. Only now is the organization looking ready to turn the corner.