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Derrick Rose leads trio of Knicks returning with big raises; Reggie Bullock headed to Mavericks

The Knicks kicked off free agency by giving substantial raises to Derrick Rose, Alec Burks and Nerlens Noel.

Rose, the former MVP, capitalized on a breakthrough season — about the third time he’s had a breakthrough under Tom Thibodeau — by agreeing to a three-year, $42 million deal.

Burks, the backup guard and sparkplug scorer, agreed to a three-year, $30 million pact, while Noel, the anchor of the defense last season, was slightly higher at three years, $32 million.

Although the Knicks were in the market for other point guards before free agency, Rose emerged as New York’s top option after Chris Paul (Suns), Kyle Lowry (Heat), Michael Conley (Jazz) and Lonzo Ball (Bulls) signed elsewhere.

Essentially, the Knicks chose Rose over the remaining point guards, Spencer Dinwiddie, Dennis Schroder, and Reggie Jackson. They can still trade for a point guard — with Collin Sexton of the Cavaliers as a possibility — but Rose’s $14 million average salary suggests they’re comfortable giving him the keys.  If the Knicks fit Rose’s deal into his Early Bird Rights, they would still have enough cap space to make a run at a mid-level player in the dwindling market.

Noel’s deal, meanwhile, is an indication the Knicks are concerned about the future of Mitchell Robinson, who broke his foot last season. Robinson is younger with a bigger upside than Noel, but could become an unrestricted free agent after next season and was still wearing a walking boot in pictures posted on social media, about five months after surgery.

Even when healthy, Robinson split time with Noel at center last season. Noel ultimately secured the starting job and emerged as a top-level shotblocker, finishing second in the league at 2.2 per game. His value was evident in the playoffs, when Noel was slowed by an ankle injury and the Knicks collapsed.

Noel, 27, who attended Kentucky like three other Knicks, will more than double his salary after earning $5 million last season.

Burks, 30, similarly exceeded expectations last season off the bench, averaging 12.7 points while shooting a career-high 42% from beyond the arc. Burks was slowed by an ankle injury early in the season but developed into the team’s part-time closer who is adept at creating his own shot.

Less than a year ago, Burks signed a one-year, $6 million deal with the Knicks in free agency. He came highly recommended by assistant coach Johnnie Bryant, who worked with Burks when both were with the Utah Jazz.

The Knicks entered free agency with the most cap space in the NBA but without superstars available. They committed to wing Evan Fournier at four years, $78 million.

As constructed, New York’s depth chart resembles the following:

PG: Derrick Rose, Luca Vildoza, Miles McBride

SG: Evan Fournier, Alec Burks, Quentin Grimes

SF: RJ Barrett, Kevin Knox

PF: Julius Randle, Obi Toppin

C: Nerlens Noel, Mitchell Robinson