They were flush with cap space after tanking for the express purpose of signing James and other high-profile free agents that July.
Unfortunately for the Knicks, that summer will forever go down as one of the biggest disappointments in franchise history after bungling their meeting with James despite being considered the "favorites" in league circles.
"Dolan was Dolan.
The Knicks had around $34 million in cap space heading into the summer of 2010, which would have been enough to land two max free agents with a little maneuvering.
Knicks fans, meanwhile, got their lone chance to live out the dream of James signing with the Knicks in NBA 2K14.