[3] Early in the season, the Knicks signed free agent and second-year forward Johnny Newman.
[4][5] The Knicks finished the regular season with a 38–44 record, and qualified for the 1988 NBA Playoffs.
In the first round of the playoffs, New York lost a best-of-five series to the Boston Celtics, 3–1.
[7] First-round draft pick Mark Jackson was named Rookie of the Year.
[8] The season was the first in which the Knicks were coached by Rick Pitino, who had been hired after leading Providence to the Final Four of the 1987 NCAA Division I men's basketball tournament.