Here's a yahoo take from last year, when the offer sheet was first reported:
At first blush, the deal seems wholly out of proportion with Fields' production through two years in the league, and especially ridiculous given the Stanford product's sophomore swoon on Broadway. After a surprisingly effective first NBA campaign that saw him go from second-round afterthought to New York's opening-night off-guard and, eventually, a first-team All-Rookie selection, Fields fell off something fierce in the lockout-shortened 2011-12 season.
All of Fields' shooting percentages declined in his second year in the league, including woeful marks of 25.6 percent from 3-point range and 56.2 percent from the foul line, along with his Player Efficiency Rating and rebound rates — most notably his defensive rebound rate, which was elite among guards and was a huge part of what made the 6-foot-7 Fields so valuable in the Knicks backcourt. He used more Knick possessions in his second year, but posted a lower per-minute scoring output and turned the ball over more frequently.
He wasn't any great shakes on the defensive end, either. Fields ranked 341st among NBA players in overall points allowed per play defended, according to Synergy Sports Technology's game charting. When you consider that more than 440 players saw NBA floor-time this season, that not all of them are counted (only guys with at least 25 plays charted appear in the rankings, per Synergy's FAQ) and that Fields played 2,009 total minutes this season (so it's not like he got burned repeatedly for one game and caught a bum stat line), that number looks really, really bad. That he ranked 185th in the NBA or worse in defending pick-and-roll ball-handlers, on post-ups, on spot-ups and in isolation doesn't help matters. (In fairness, we must note that he posted a top-100 finish in defending plays off screens, coming in at 96th overall.)
OK, so we've got a shooting guard who can't shoot, a rebounding wing whose rebounding fell off, a perimeter defender who's not a very good defender and a second-year pro whom most Knicks fans were willing, if not eager, to let walk after the team's first-round playoff exit. (This is, of course, a drastic oversimplification, but it's also about the size of how Landry Fields looks to the world.) And yet now he's getting offered better than $6.5 million a year to play the wing for a team that starts DeMar DeRozan and just drafted Terrence Ross? Are the Raptors stupid?