The conundrum is easy enough to understand, even amid the complexities and frustrating math of the stupid luxury tax aprons.

The Knicks, bottom line, are hard-capped at about $207.8 million. The NBA and players union don’t want you to use “hard cap” since they’re trying to pretend it doesn’t exist in their CBA, but that’s the reality of the Knicks’ situation. They can’t spend a dollar over $207.8 million on salaries, at least not without a tree-planting scam and a shady uncle to circumvent the cap.

After spreading money to their 12 current guaranteed contracts, the Knicks are left with two roster spots to fill and the space to sign just one veteran minimum.

That’s the conundrum.