Knicks re-sign All-Star Carmelo Anthony

Sun Jul 13, 2014 4:12pm EDT
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By Larry Fine

(Reuters) - High-scoring All-Star Carmelo Anthony has re-signed with the New York Knicks, giving team president Phil Jackson the foundation piece he desired in his quest to bring a long-awaited title to Madison Square Garden.

Terms of the deal, announced by the National Basketball Association team on Sunday, were not disclosed.

Under NBA salary cap rules, Anthony could sign a five-year contract for as much as $129 million, but he may elect to take less in order to give the Knicks more budget room to try and improve the team by shopping for other free agents.

"After three months of questions around Carmelo Anthony's return to the New York Knicks, we are now happy to know that we have the cornerstone of what we envision as a 'team of excellence.'" Jackson said in a statement on the team website.

"(General manager) Steve Mills and I have assured Carmelo through our conversations, that we share the vision and the determination to build this team.”

Anthony, who averaged 27.4 points last season for the Knicks was the biggest free agent on the market following Friday's decision by LeBron James to sign with the Cleveland Cavaliers.

“I am a New York Knick at heart,” Anthony said. “I am looking forward to continue my career in Orange & Blue and to work with Phil Jackson, a champion who builds championship teams. Madison Square Garden is the Mecca of basketball and I am surrounded by the greatest fans in the world.”

The Knicks have not won an NBA crown since 1973, when Jackson was a defensive-minded forward on the team.   Continued...

6: New York Knicks forward Carmelo Anthony earns $30.4 million, consisting of $21.4 million in salary and $9 million in endorsements. REUTERS/Mike Segar