March 12th 2007: James Dolan gives Isiah Thomas a contract extension
After leading the Knicks to a 29-34 record and barely staying afloat at the #8 seed in the Eastern Conference, James Dolan surprisingly decided to give Isiah Thomas a multi-year contract extension. After the disastrous 2005-06 season that led to Larry Brown’s firing, Dolan gave Isiah Thomas an 1 year ultimatum to show “evident progress” otherwise he’d be fired. Somehow a 29-34 record was adequate enough.
In Knicksian fashion, the team won 4 of the remaining 19 games to fall well out of playoffs. Both Jamal Crawford & David Lee had their seasons end early due to injuries. The next season proved to be disastrous due to the verdict from the sexual harassment lawsuit and a very public feud with Stephon Marbury. The Knicks were deemed an “embarrassment” by David Stern. Stern coerced Dolan to hire Donnie Walsh and subsequently fired Isiah at the end of the season.