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Knicks to re-sign J.R. Smith

Updated: July 5, 2013, 7:03 PM ET
By Ian Begley | Special to ESPNNewYork.com

The New York Knicks and free agent J.R. Smith have agreed to terms on a four-year, $24.7 million contract, the guard's agent, Leon Rose, said Thursday morning.

The contract is the maximum amount the Knicks can give Smith via the early Bird rights, which allow a team to offer the average player salary with standard annual raises of 7.5 percent. The league's financial figures for 2013-14 will be released next week, but the average salary is projected at approximately $5.5 ...

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