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The New York Knicks have reached agreement with free-agent forward David Lee(notes) on a one-year contract worth $8 million plus additional incentives, Lee?s agent, Mark Bartelstein, told Yahoo! Sports.
Lee had been seeking a multiyear contract, but the Knicks wanted to preserve as much salary-cap room for next summer?s flush free-agent market. Lee will now also join LeBron James(notes), Dwyane Wade(notes) and Chris Bosh(notes) in the free-agent class of 2010.
About time. A one year rental. It will cost $12 mil to retain his Bird Rights. That doesn't leave us enough to go after a max-contract so the Knicks will forego retaining them. He'll be an unrestricted free agent next year.