Knicks have 150-1 odds to win NBA title

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This should surprise no one, but the New York Knicks are long shots to win the NBA title next season.

One sportsbook, Bovada LV, lists the Knicks' odds to win a title at 150-1. Those are the second-lowest odds on the board.

Bovada LV also lists the Brooklyn Nets, Denver Nuggets, Minnesota Timberwolves and Sacramento Kings at 150-1. The Charlotte Hornets, Orlando Magic and Philadelphia 76ers have the longest odds on the board at 250-1.

The Knicks' long odds are to be expected. They finished with the second-worst record in the NBA last season (17-65).

New York's odds to win the title, according to Bovada LV, didn't improve after its acquisitions in the draft and free agency.

Prior to the draft, the Knicks' odds to win the title were 100-1, per Bovada LV.

New York drafted Kristaps Porzingis with the fourth overall pick and has agreed to terms with Robin Lopez, Arron Afflalo, Derrick Williams and Kyle O'Quinn in free agency.

Knicks talking contract with Jason Smith, Amundson: The Knicks have four players under contract and have agreed to terms with four more. They have two rookies who will eventually be signed to contracts and have signed Langston Galloway to a partially guaranteed deal. They are expected to keep Galloway on the roster, leaving five open roster spots.

Team president Phil Jackson and GM Steve Mills have been in "constant contact" with representatives for Jason Smith and Lou Amundson, league sources said Sunday. New York also contacted Lance Thomas on the first day of free agency.

Assuming the salary cap is at the projected $67 million, the Knicks have spent all of their cap space and have a $2.8 million exception and veteran's minimum contracts to offer free agents.

Summer league roster: The Knicks have not released their summer league roster yet, but the players from last year's roster expected to participate include Galloway, Ricky Ledo, Cleanthony Early and Thanasis Antetokounmpo, sources say.