1. Do they keep or trade the pick?

The Knicks could have their highest draft pick in 30 years and might get someone that they can develop into a future cornerstone player, especially if it's a top two pick. But if the Knicks want immediate results, Phil Jackson may consider trading the selection for an established veteran.

2. Can Carmelo Anthony regain his old form?

The Knicks seem confident Anthony will come back strong following a left-knee procedure in February. But he turns 31 in May and has been slowed by injuries in recent years so the clock could be ticking for the Knicks to build a contender with Anthony as the centerpiece.

3. Can they get Anthony help?

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That's the plan and the Knicks have the resources with roughly $30 million to spend in free agency. Many top guys are expected to stay with their teams, but the Knicks have to secure second-tier guys who can score or are two-way players who can help turn things around quickly.

4. Will the Knicks' record hurt them?

It could unless they overspend, and they might have to in order to lure some players away from their own or better teams. We'll see if Ring Master Phil has cache now. Greg Monroe continues to be linked to the Knicks, and they may have to get creative for restricted free agents, such as Jimmy Butler.

5. Can they upgrade the point guard spot?

Jose Calderon believes he'll be back and be much better than this season. Free agent Goran Dragic could re-up with Miami so Calderon might be the Knicks' best short-term option if healthy until they find someone with strong leadership skills who will have Anthony's respect.