Apr. 8, 2012; New York, NY, USA; New York Knicks small forward Steve Novak (16) reacts during the first half against the Chicago Bulls at Madison Square Garden. Mandatory Credit: Debby Wong-US PRESSWIRE

Steve Novak, New York Knicks — four-years, $15 million

I’d say this is a bit of risk for a player who is essentially one-dimensional (though, to Novak’s credit, he excels at that one-dimension). Novak’s shooting has translated to every venue but isn’t there a legitimate reason why he’s only averaged 9.7 minutes per game prior to this season? Defense is a liability and his rebounding is nonexistent. Novak is like the anti-Jeff Green in this sense; Green offers a passel of different skills, none being elite, while Novak only provides one redeemable quality.

A decent NBA comparison would be Matt Bonner though Novak is a more proficient 3-point shooter. (Another oddity: Both essentially earn the same amount of money. Bonner is set to make $3.6 million this season. Novak will make an average of $3.75 million.) His 3-point shooting is offset by his (or lack thereof) defensive output. Despite the data to the contrary New York excelled with Novak at the 4, as they allowed an above-average 98.6 points per 100 possessions. They scored 5.4 points per 100 possessions more with Novak spacing the floor.

In this sense the deal isn’t completely awful. I don’t think it’s a good value for Novak but he is the perfect complement on a team with Carmelo Anthony, Amare Stoudemire and Jeremy Lin. Simply spotting up from the corner — where he converted on 48% of his 3-pointers — will alleviate the periods where New York becomes too isolation heavy.

Marcus Camby, New York Knicks — three-years, $13.2 million

The Spurs were among the teams interested in Camby. Camby is an alluring big man despite his age because he can swat shots like no other. Camby rejected 4.8% of the opponents shots while he was on the floor, which is a couple ticks higher than Dwight Howard. There are legitimate concerns about his mobility on the perimeter in against pick-and-rolls and he’s limited offensively. But Camby should be effective as a safety valve when Tyson Chandler is sidelined.

I think the average dollar value is a little skewed in the wrong direction. (Contractual side note: Camby’s first two years are guaranteed, at approximately $10 million. His third-year is partially guaranteed. This does give New York some added flexibility.) So, yeah, the deal is defensible.

Danny Green, San Antonio Spurs* — three-years, $12 million

I’m admittedly biased but is there any doubt that Green is worth this contract (sound off in the comments if you disagree)? Green is the quintessential Spur in the sense that he carries himself with dignity, shoots the ball well and adheres to Gregg Popovich’s defensive philosophy. Green is especially valuable considering one of the Spurs’ primary faults was their deficient athleticism especially when you pit them against Oklahoma City. I don’t mind paying a guy $4 million who is one of the few Spurs capable of defending Russell Westbrook on the perimeter.

Darrell Arthur, Memphis Grizzlies* — three-years, $9-10 million

I inexplicably missed the signing of this deal yesterday. I covered the value of Arthur in my premature preview of the Memphis Grizzlies.

    Why was Arthur so important? He was their primary big man off the bench, providing valuable floor spacing     and defensive flexibility. His 41 percent mark from outside the paint made him a valuable pick-and-pop     weapon. Not only that he gave Gasol and Randolph a reprieve from banging on the interior, a role that     Marreese Speights attempted to duplicate this season. The difference between Speights and Arthur was     negligible so Speights’ addition turned out to be a positive.

The move is a nice move but it looks a tad redundant after Memphis has already committed to Marreese Speights for essentially the same annual salary. Speights replicated Arthur’s role to the tee last season. Does Memphis really have room for the same player on the team? Are there enough mid-range shots to go around?

***

Other free agency tidbits

– The Spurs are “confident” that they will retain Boris Diaw and Patty Mills according to a report.

– The Dwight Howard saga continues: Charlotte could land Kris Humphries in a potential trade.

– The Rockets are open to sign-and-trade options for Courtney Lee, a restricted free agent. Boston and Indiana are the current frontrunners for Lee.

– Danny Green via Twitter: Its been a wild road and I’m not done yet…but I’m a very happy man right now lol…looks like I’ll b a spur for a lil while longer #GSG

Dec. 8, 2010; Phoenix, AZ, USA; Memphis Grizzlies forward (22) Rudy Gay , forward (50) Zach Randolph and forward (00) Darrell Arthur against the Phoenix Suns at the US Airways Center. Memphis defeated Phoenix 104-98 in overtime. Mandatory Credit: Mark J. Rebilas-US PRESSWIRE

Memphis Grizzlies
Record: 41-25
Offensive rating: 104.0 — 19th
Defensive rating: 101.8 — 7th
Pace: 90.8 — 18th
eFG%: 47.3% — 24th
Defensive eFG%: 48.5% — 11th

Burning question: Should Memphis trade Rudy Gay?
Former Memphis Grizzlies owner Michael Heisley insisted that the team was not shopping around Rudy Gay prior to the NBA Draft. According to the San Francisco Chronicle, there is a developing market for Gay.

    Grizzlies owner Michael Heisley told the Memphis Commercial-Appeal that Gay, who will make $16.4     million next season, is not being shopped. Still, the Warriors, Charlotte, Toronto and Brooklyn all contacted     Memphis about Gay’s availability, according to league sources.

Gay is only 25-years-old so it seems shortsighted of Memphis to consider trading him before he enters the prime of his career. The problem is his contract: Gay has approximately $53.7 million left on his contract (AAV: $17.9 million). They vastly overpaid for a good but not elite player. The effects of an ill-advised contract could have drastic consequences in the near future.

Their core is good enough to make a deep run in the playoffs. The only thing holding them back is the salary cap. Marc Gasol and Zach Randolph command $123.6 million over the next three years as well. If Memphis wants to continue their success and give themselves the best opportunity to improve their team, trading Gay is the best option. The No. 2 overall pick doesn’t seem like a bad consolation; an NBA ready Robinson or a developing professional in Michael Kidd-Gilchrist. They probably won’t produce like Gay but the difference in salaries could make that insignificant. Memphis needs to start finding more cost-effective options or risk breaking up their core.

Player(s) to watch: Darrell Arthur/Marreese Speights
The Grizzlies received little from their bench aside from O.J. Mayo. Hence the incentive to plant Zach Randolph on the bench while he rehabilitated from his torn MCL injury. Collectively, they averaged 29.9 points per game, good for 19th. As a result, Mike Conley, Marc Gasol and Rudy Gay logged 35+ minutes per game. Darrell Arthur tore his Achilles prior to the regular season. His season ended prematurely and a valuable cog to Memphis’ rotation never was allowed to contribute.

Why was Arthur so important? He was their primary big man off the bench, providing valuable floor spacing and defensive flexibility. His 41 percent mark from outside the paint made him a valuable pick-and-pop weapon. Not only that he gave Gasol and Randolph a reprieve from banging on the interior, a role that Marreese Speights attempted to duplicate this season. The difference between Speights and Arthur was negligible so Speights’ addition turned out to be a positive.

They both are, however, restricted free agents this year. They are both 24-years-old. The Grizzlies are dangerously close to surpassing the luxury tax line — maybe they go that route now that Robert Pera has purchased the team — and seem to be in a quandary (unless they re-sign both). Do they take a risk and re-sign Arthur for a discounted rate or side with Speights who succeeded in his role last season?

Important statistic: Memphis’ pick-and-roll offense.
Memphis defeats their opposition by forcing their opponents into tough decisions. Those tough decisions usually lead to turnovers — opponents turned the ball over on 16.3% of their possessions against them — which Memphis capitalizes on, scoring 1.14 points per possession in transition, good for 13th.

Their offense, however, doesn’t sufficiently provide enough production to support a tenacious defense. In comparison to other Western Conference powers — ie: Oklahoma City, San Antonio — Memphis is strikingly deficient when they run pick-and-rolls. The Grizzlies’ ball handler score 0.70 PPP (27th) while 37.3% shooting from the field, both marks that are simply unacceptable in this league. They’ve hit the roll man on about a third of their possessions with little success either, ranking 25th. For reference, the New Orleans Hornets’ ball handlers averaged 0.85 PPP. This discrepancy is significant because, over 1000 possessions, it represents a 150 point difference.

It would appear that with Mike Conley and Marc Gasol as prominent players in the rotation, both posted above-average numbers running the pick-and-roll, Memphis has a foundation for an efficient offensive attack. That’s not the case. Another reason why the pick-and-roll is so important? They play the Spurs four times a year (and potentially more). San Antonio gave up the most points per possession to opposing ball handlers. This is an area that they should improve on.