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2014 Free Agency, Latest News / Jul 12, 2014 / 2:45 pm

Carmelo Agrees To Five-Year Deal With Knicks

Carmelo Anthony

Carmelo Anthony (Joe Camporeale, USATODAY Sports)

Another round of Melo-Drama is officially over. According to multiple reports, Carmelo Anthony will sign a five-year contract to remain with the New York Knicks.

Yahoo Sports’ Adrian Wojnarowski reports that Anthony’s five-year deal with the Knicks is worth approximately $120 million.

Carmelo Anthony will sign a five-year, $120 million-plus contract to return to the New York Knicks, league sources told Yahoo Sports.

Anthony considered the Chicago Bulls, Los Angeles Lakers and Houston Rockets before deciding to re-sign. He notified the other teams on Saturday that he’s returning to New York.

Anthony might still take less than the maximum $129 million the Knicks can give him, a source said.

Anthony is expected to publicly announce his return on Sunday.

Final terms of Carmelo’s contract are still unknown, but all sources are reporting that they’ll likely fall below the $129 million maximum that New York can offer him. Frank Isola of the New York Daily News believes that Anthony’s contract could come fall well short of that benchmark.

After being publicly courted by the Chicago Bulls, Houston Rockets, Dallas Mavericks, and Los Angeles Lakers in addition to the Knicks before the July 4th holiday weekend, it became widely assumed that Anthony would re-sign with New York. And despite multiple reports to the contrary over the past week including one yesterday, that ultimately proved the case.

Phil Jackson initially balked at giving Anthony a max-level contract, and these reports indicate that he and ‘Melo ultimately met somewhere in the middle financially. The Zen Master recently told ESPN that he “really struck a chord” with Anthony in recent conversations, and that the two had aligned visions for the future of the Knicks. And though nothing is official until the ink is dry, Carmelo potentially taking a minor pay-cut supports that sentiment.

Bringing Anthony back is a huge step for New York, but it’s just one stride on a long trek back to relevance. And given the Knicks’ financial straightjacket, Carmelo won’t know if he made the right decision until next summer at the earliest. This is a choice made on finance and faith – let’s hope it pays off for him.

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  • 2cents

    So lets here from the real Knicks fans. Is this really what YOU wanted?

  • Felix Toosmoov Tostopdagroove

    yes! I think melo is gonna be great running the triangle especially with a pass first PG like Calderon! I don’t we’ll win it all this year but watch out next summer! After Stat and Bargs are gone we’ll be able to find plenty of people who want to play with melo!

  • Luis R Catinchi Bigio

    Yes to Melo & the Knicks here comes the Champ

  • http://crvck.com ONMY88SHiT

    Mike Woodson really had no system, if Phil Jackson and Fisher fit Melo into the triangle system nicely we’ll be fine.
    I’m not a huge fan of his and he gets a lot of criticism (a lot of it justified too) but he’s still one of the best scorers in the league and it would be a shame if he left.

    Now we got a good GM, hopefully a good coach and we added some young talent in recent years. With Amar’e and Bargnani coming off the books next summer thing will be looking much better for us.

  • Speedz

    Woodson’s system is here is the ball to Melo/star player, let it rip and I will look so damn genius…!

  • rich carter

    The knicks will be a playoff team but will not be any better than that for a long time with melo as the best player and his 120 million dollar contract.

  • http://crvck.com ONMY88SHiT

    Right, and he played favorites way too damn much. He would take out Shump for the tiniest mistakes and get on his case while JR Smith could practically get away with anything.