Thursday, July 4th, 2013 at 9:00 am  |  24 responses

New York Knicks to Re-Sign JR Smith (UPDATE)

by Marcel Mutoni / @ marcel_mutoni

UPDATE: JR Smith’s agent, Leon Rose, confirmed this morning that a deal has been reached between Smith and the New York Knicks.

At the end of last season, JR Smith told the media that his intent was to retire as a New York Knick. It appears he’s moving closer to that goal.

According to multiple published reports, Smith and the Knicks are putting the finishing touches on a four-year, $24 million contract extension.

Per the NY Daily News:

According to a Knicks source, the deal could be completed by Thursday. Smith is expected to receive the “Average Player Salary Exception” which could amount to $24 million over four seasons. The expected signing assures the Knicks of having their top five players under contract next season — Smith, Carmelo Anthony, Iman Shumpert, Raymond Felton and Tyson Chandler. Also, according to a basketball site in Argentina, the Knicks have offered Pablo Prigioni a two-year contract extension.

After Smith, who will turn 28 in September, averaged a career-best 18.1 points last season in 80 games, all as a reserve, the Knicks’ focus this summer was re-signing him. For months, Smith had said his desire was to return to the Knicks. He also had two influential power brokers in his corner: Garden Chairman James Dolan and Anthony, who was also Smith’s teammate with the Denver Nuggets.

According to JR Smith’s father, the reigning Sixth Man of the Year is still weighing his options, though it’s unlikely he’ll be offered more money elsewhere.

Per the NY Post:

“I’m diehard Knick fan, I want to see my son get justice,” Earl Smith said on Wednesday night. “We know the Knicks only have so much money because of early bird rights. But if some team offers a crazy amount of money, like $10 million per, he’ll probably go there. We’ll see what happens. He’s not signing yet (tonight).” Two of his suitors, Houston and Dallas, were waiting to see if they landed (Dwight) Howard before making an offer for Smith Friday that could be a four-year deal.

Smith experienced his best season in 2012-’13, until things completely fell apart in the Playoffs.

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  • spit hot fiyah

    “Smith is expected to receive the “Average Player Salary Exception”” kind of like a slap in the face to players who think they are better than what they are

  • danpowers

    if anyone would have been asked anytime before this summer “which player will take a pay cut long term to stay with the team that gave him the chance to raise his stock?”

    who would have answered “j.r. smith?” not too many if anyone at all i guess

  • Junkie

    Kyle Korver is receiving the same amount of money as JR? Damn.

  • danpowers

    now just imagine what kind of offers smith would have received if he wouldnt have the reputation of being a head case

  • christianbullen

    “Until things completely fell apart in the playoffs.” lol..

  • danpowers
  • OfftheWall87

    Knicks are going nowhere with two me-first isolation players.

  • melomanff

    YESSSS!!! (I realize the Knicks aren’t winning any time soon, but they are one entertaining bunch thats for sure)

  • Da Real

    Harden gets 6th man and gets 80 mill and this dunce gets the same award and takes 25, haha. Half is going to Uncle Sam and the other half to the NYC night clubs. Starting to question how “good” Leon Rose is after this

  • Da Real

    He’s getting Brad Stevens money! Hahaha

  • OfftheWall87

    Harden and Smith aren’t the same caliber of players. Harden is a top 5 shooting guard who apparently is a superstar in the making. JR Smith is a scorer. That’s the reason for the difference in the amount of money they signed for. No agent could get Smith much more than what he got if we go by what he does and how he should be paid for what he does. Harden was a 6th man only because he agreed to it in order to help the team. Smith is a 6th man because he’s not capable of starting on any team that’s going to win anything.

  • danpowers

    i agree with you that harden and smith are not the same calliber but smith aint that far from a top 5 sg.

    1+2 bryant + wade

    3 harden

    4 joe johnson

    5 ? iggy and george are more of a sf in my oppinion, gordon too injury prone, ellis too inefficient (his efg% and ts% were even lower than smith’s), crawford and martin slightly weaker on defense than smith. imo tyreke evans yet has to prove himself. normally ginobili is a no brainer here but i think due to age id give smith the edge at least for the upcoming season.

    did i forget someone?

  • Evan Boland

    I’d say Ellis > Smith. Is Derozan better than J.R? I haven’t really kept up with him. Who else I’m sure we’re missing a few.. O.J Mayo. I’d put J.R Smith with Kevin Martin and Jamal Crawford. I think he CAN be better, though.

  • Evan Boland

    And one played few than 40 games a season..

  • OfftheWall87

    Bryant, Wade, Harden…in my opinion, no need to really mention anyone else because it’s that wide of a gap between those 3 and the others.

  • danpowers

    valid point.

  • danpowers

    i think derozan is more talented, but i dont know if he is really better. maybe the fact that he plays on a losing team may let him look a little worse than he is.

    i love ellis’ skills, but i think he tends to play even more out of controll on both ends of the floor than smith.

    crawford and martin… i think thats a matter of taste, like the above. i wouldnt argue that derozan or ellis may be better or that martin and crawford play more consistant. i just think that one could make a case for all those guys either way to be in the top 5. but as OfftheWall87 already mentioned: the gap between the first three and the rest of the pack is so wide that a top 5 rank doesnt really matter that much.

  • Redd

    700k more

  • MikeC.

    If JR can remember how to play basketball after his horrendous Playoff showing, he’ll be worth every penny. That bow to JET cost JR a bigger payday.

  • Nathan Shane Long

    CARMELO NO.1 GROUPIE IS STAYING WITH THE KNICKS JR SMITH is probably the most erratic selfish scorer in the league today

  • CubicleDunker

    Am I the only one before his playoff meltdown that thought someone like ATL would have tossed him a 4 year/$40M deal as a starter?

  • Nathan Shane Long

    1.James Harden because Kobe is done and wade is a shell of his former self

    2.Kobe just because he’s Kobe and because next season will be his last

    3.Klay Thompson is on the come up ALL-STAR future

    4.D-WADE even though he is nothing more than LEBRON SIDEKICK GROUPIE RIGHT NOW

    5.Joe Johnson

  • RKJ92

    JR Smith is better then DeRozan as of right now.. but I have a feeling that will change as of this season provided our teams chemistry isn’t an issue. DeRozan has all the tools, and this will be his make, or break year.

  • The Seed

    WHYYYYYYYYYYYYY, he will not change his game. Trade him, then go sign OJ or Ellis. OJ and Ellis would have worked better in the Knicks system.