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Report: Smith, Knicks Agree To 4-Year, $24.7M Contract

NEW YORK (CBSNewYork) - According to several reports, J.R. Smith and the New York Knicks have agreed to terms to a new four-year, $24.7 million contract.

Smith's agent, Leon Rose confirmed the deal on Thursday morning.

The deal, which is the maximum the Knicks could have offered Smith, includes a player option after the third year.

Last season Smith averaged 18.1 points, 2.7 assists and 5.3 rebounds per game while being named the NBA's Sixth Man of the Year Award.

The signing won't become official until July 10.

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