NEW YORK (CBSNewYork) -- The Knicks have reportedly re-signed restricted free agent guard Ron Baker, leaving themselves with little space under the salary cap for any other acquisitions.
The two-year contract is worth $8.9 million and includes a player option in the second season, ESPN's Adrian Wojnarowski reported.
The Knicks used their full room exception on Baker and have less than $1.5 million in cap space left. Unless they make a move to free up space, the Knicks figure to be out of the running for free agent point guards Rajon Rondo or Derrick Rose.
The team is looking to trade Carmelo Anthony, but that's not expected to free up much cash because they would likely be asked to take on players who come close to equaling Anthony's $26.2 million salary. The Knicks could also buy out Anthony's contract and use the stretch provision to cut his cap hit in half.
The Knicks signed Baker as an undrafted free agent out of Wichita State before last season. The 6-foot-4 guard played in 52 games as a rookie, starting 13, and averaged 4.1 points, 2.1 assists and 1.9 rebounds.
It's not clear if Baker was receiving interest from any other teams. General manager Steve Mills has been running the basketball operations since the Knicks parted ways with team president Phil Jackson last month.
Baker's re-signing comes three days after the team inked shooting guard Tim Hardaway Jr., who was a restricted free agent with the Hawks, to a four-year, $71 million contract. The Knicks drafted Hardaway in 2013 and traded him to Atlanta two years later.
According to ESPN, the Knicks view Baker, 24, as another component of their youth movement, which also includes post players Kristaps Porzingis and Willy Hernangomez and point guard Frank Ntilikina, the eighth overall pick in last month's draft.
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