In the regular season, the Knicks had a 38–44 win–loss record, finishing in fourth place in the Atlantic Division and failing to qualify for the 1976 NBA Playoffs.
[3] In the 1975 NBA draft, the Knicks had the ninth overall pick and used it to select Gene Short.
The Knicks were stripped of their first-round pick in the 1976 draft for attempting to sign McGinnis.
At this time the Knicks went on a six-game winning streak, and in January 1976 they had another unbeaten run of six games that left their record at 24–23.
[8] A March 30 loss to the Phoenix Suns officially eliminated the Knicks from postseason contention; it was the first season since 1965–66 that the team did not reach the playoffs.