Knicks to Re-Sign Chauncey Billups?

According to Newsday‘s sources, Chauncey Billups may be sticking around New York for quite some time: “As everyone knows, the Knicks have a decision to make about their point guard position at the end of this season. By contractual rule, the team can save $10.5 million of the $14.2 million Chauncey Billups is scheduled to make in 2011-12 if they opt to waive the veteran point guard within five days of their last game. But a person with knowledge of the team’s thinking said the Knicks aren’t looking at that as an option and instead are considering committing to the 34-year-old Billups beyond 2012. The thinking is that Billups could be exactly what they need as a leader to direct the offense with star players Carmelo Anthony and Amar’e Stoudemire. And if they can sign him to a reasonable contract extension, it would allow the team to have a decent amount of money left over to make upgrades in other areas of the roster via free agency. The Knicks anticipate having salary-cap space in the 2012 offseason, though how much still depends on the outcome of the next collective-bargaining agreement. Until Billups arrived, the belief was that the Knicks would use their cap space in 2012 to target a star point guard such as Chris Paul or, if he doesn’t sign an extension with the Nets , Deron Williams.”