Yeah it's obviously overpaying but unless "flight" kills it in the summer league Fields may be the best SG the Knicks can get for next season and no guarantee they could find an upgrade even after that.
Even if JR is the starter he needs someone to spell him so he doesn't get run into the ground and right now there no guarantees that the Knicks will even be able to get a reliable SG who can do that. Not to mention play heavy minutes if JR was to get injured. Also his 3rd year he would be an 10 expiring and his deal doesn't go past the 2015 expiration date.
So yeah just thought I would share my change in opinion.