DeRozan eventually signed with the Chicago Bulls. According to Marc Berman of the New York Post, the former San Antonio Spurs swingman would have cost more per season for the Knicks. That led to him choosing the Chicago Bulls, who offered him $85 million over three years.
"Turns out, according to two NBA sources, [Knicks GM Scott] Perry was leaning toward a bolder pursuit, that of San Antonio standout swingman DeMar DeRozan. He made the All-Star Game his last three seasons in Toronto before being traded to the Spurs in 2018. DeRozan, though, would have cost more per season. According to the sources, DeRozan had sincere interest in the Knicks, but instead ended up with a generous deal in Chicago – a three-year, $85 million package. The Knicks inked [Evan] Fournier for four years, $78 million (with bonuses) while retaining a team option for the final season."
DeMar DeRozan joined the likes of Lonzo Ball, Zach LaVine and Nikola Vucevic at the Chicago Bulls. They are expected to be one of the strongest playoff contenders in the Eastern Conference next season.
NBA Rumors: Was not opting to sign DeMar DeRozan a wise decision by the New York Knicks?
The New York Knicks had the most cap space this offseason ($51 million). They were in a great position to land a prospect like DeMar DeRozan. However, the Knicks had to address several other issues for next season. For starters, they needed more three-point shooting on the roster.
They ended up adding Kemba Walker and Evan Fournier to fill that void. They also wanted to re-sign players like Derrick Rose, Alec Burks and Nerlens Noel, which wasn't going to be cheap. Julius Randle's extension was also impending.
Keeping these things in mind, it only made sense for the New York Knicks to refrain from signing DeMar DeRozan. He wouldn't have helped the side with their three-point shooting. The four-time All-Star has shot just 28.1% from deep in his career.
DeRozan's signing would have also limited the New York Knicks' spending power for next offseason. The free agency class in 2022 will be better than this year's. That makes it important for the Knicks to have the flexibility to be active in the market next year.