Kemba Walker was not going to solve the team’s problems at point guard long term. It’d be just another Stephon Marbury/Carmelo Anthony situation. You’ll go to the playoffs for a couple years but you won’t be truly competitive and get bounced out of the first round. This happened in the 2003–2004 NBA season and the Knicks got washed by the-then New Jersey Nets. It happened again in the 2010–2011 NBA Season. They gave up the farm for Carmelo Anthony and the team went to the playoffs and got swept by the Celtics. They lost to the championship contending Miami Heat the following year and the younger, defensive minded Indiana Pacers in the 2012–2013 NBA Playoffs and they haven’t been back since.
Kemba Walker would just be another flashy name that wouldn’t solve the team’s problems long term. In regards to contracts, the bulk of the cap is being taken up by Joakim Noah and Tim Hardaway Jr. You can’t simply “waive” overpriced contracts. You’d be paying them for the next several years and it would have negative impact on you signing on additional talent in the free agent market. You’d be in the same position as the Brooklyn Nets with Deron Williams.
Walker is a good player but the Knicks don’t need another quick fix talent.