Yeah they can, its been said that CP3 wants to pair up with Carmelo in New York in 2012. I guess the Knicks jumped on the gun to get Carmelo to sign his 3 yr 65mil contract to keep him happy. They have already tanked the last 10 seasons, maybe as tank another 4 months and wait for Carmleo to become a FA.
Player -----2010/11 -----2011/12 -----2012/13 -----2013/14 -----2014/15
Amare Stoudemire -----$16,486,611 -----$18,217,705 -----$19,948,799 -----$21,679,893 -----$23,410,988
Ronny Turiaf -----$4,000,000 -----$4,360,000 (player option)
Kelenna Azubuike -----$3,364,000
Roger Mason -----$1,400,000
Toney Douglas -----$1,071,000 -----$1,145,640 -----$2,067,880(team option)
Shawne Williams -----$885,210
Bill Walker -----$854,389 -----$916,100(team option)
Andy Rautins -----$600,000 -----$788,872
Landry Fields -----$473,604 -----$788,872
Chauncey Billups -----$13,150,000 -----$14,200,000(team option)
Renaldo Balkman -----$1,675,000 -----$1,675,000 -----$1,675,000
Shelden Williams -----$915,852
Corey Brewer ----$3,703,472
Chris Paul -----$14,940,152 -----$16,359,805 -----$17,779,457(player option)
according to that in 2012/13 when CP3 is a FA, only amare 20mil, douglas 2mil, fields(resign for 6mil), balkman 1.6mil and carmelo 20mil will be on contract. thats a total of 50mil. Enough left to sign CP3 for around 20mil to make it 70mil LOL
of course next season they can always do a sign and trade with CP3, they will have billups 14mil to match up with CP3's 16mil and have trade baits in turiaf, douglas, bill walker and god forbid landry fields(best player in NY =P).