Knicks rumors: J.R. Smith to test free agency

New York Knicks shooting guard J.R. Smith is "very, very likely" to opt out of his current contract after the season and test the free agent market, according to Moke Hamilton of Sheridan Hoops.

Smith has a player option for next season, and a source close to Smith tells SheridanHoops.com that it is “very, very likely” that he will opt out of his contract and become an unrestricted free agent this summer.

Before writing Smith off as another greedy professional athlete, you should first look at his current salary. The Knicks are paying him $2.8 million this season, which is far below market value. In fact, Smith has to look no farther than teammate Steve Novak -- who's earning $4.05 million in 2012 -- to see that his services are undervalued.

If he does hit the open market, Smith will be doing so at just the right time. The gifted shooter was recently named the NBA's Sixth Man of the Year, and he's averaged career highs across the board; 18.1 points, 5.3 rebounds and 2.7 assists per game during the regular season.

This could be trouble for the Knicks, who figure to be limited in what they can offer Smith. Whatever the case, Smith figures to cash in following his impressive season.

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