Report: Carmelo Anthony has no-trade clause, opt-out in new deal

Anthony has lots of power in new contract with Knicks.
Carmelo Anthony has lots of power in new contract with Knicks. (USATSI)

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The New York Knicks were able to retain their star this summer when they re-signed Carmelo Anthony for five years and $124 million. Even though the Knicks aren't in a position to contend, they were in a position to offer their star forward more money than any other team and a couple of items to give Anthony as much power as possible over his future with the team during the next five years. 

According to Frank Isola of the New York Daily News, Melo's new contract includes a no-trade clause, allowing him to veto any possible trades that he doesn't want to be included in. But that's not all of the power Melo has in this new deal. He can also opt out of his five-year deal after year 4, giving him the flexibility to be a free agent in 2018, according to Ian Begley of ESPN New York.

It seems unlikely Melo will be in the position to better his financial standing in the league in terms of salary when he's 35 years old and slated to make somewhere in the neighborhood of $30 million. However, he could always decide to opt out to either leave for a better situation if the Knicks aren't a title contender there, or he can try to secure a long-term deal at a discounted rate. Phil Jackson giving him that kind of power over his own future with the team is a nice concession for sticking it out with Phil's plan.

The Knicks are in position to add key players to their roster starting next summer. Anthony is hoping Jackson's plan for rebuilding the team and turning them into a contender is a quickly executed plan. But if it isn't, at least he's making a lot of money to ease the pain.

(H/T - ProBasketballTalk)

CBS Sports Writer

Zach Harper likes basketball. Some would even say he loves it. He's also an enthusiast for everything Ricky Davis, Rasheed Wallace, Nic Cage, and has seen the movie Gigli almost three times. He's been... Full Bio

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