Not sure if this was common knowledge or posted already, but it's being reported that J.R. Smith is likely to re-sign with the Knicks for 4 years at a little more than 5 million a year rather than test the free agent market and possibly cash-in for more with another team.

Here's the story I saw:
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Apparently, part of the agreement is likely to be for the Knicks to also sign J.R.'s brother Chris again. This part of the move is either shady or savvy, depending on what you think about J.R. I suppose.

My take on this deal, if this story is true, is that it avoids a smaller scale version of the Lin mess from last year and gives us at least a little stability going into next season. There is no way we'd get as good a player as the 'good' version of J.R. Smith for a little over 5 million a year. The continued variable is going to be how much of the 'good' J.R. Smith is going to show up once he's got an extended deal.