Another round of Melo-Drama is officially over. According to multiple reports, Carmelo Anthony will sign a five-year contract to remain with the New York Knicks.
Yahoo Sports’ Adrian Wojnarowski reports that Anthony’s five-year deal with the Knicks is worth approximately $120 million.
Carmelo Anthony will sign a five-year, $120 million-plus contract to return to the New York Knicks, league sources told Yahoo Sports.
Anthony considered the Chicago Bulls, Los Angeles Lakers and Houston Rockets before deciding to re-sign. He notified the other teams on Saturday that he’s returning to New York.
Anthony might still take less than the maximum $129 million the Knicks can give him, a source said.
Anthony is expected to publicly announce his return on Sunday.
Final terms of Carmelo’s contract are still unknown, but all sources are reporting that they’ll likely fall below the $129 million maximum that New York can offer him. Frank Isola of the New York Daily News believes that Anthony’s contract could come fall well short of that benchmark.
I'm pretty sure Carmelo will take less than $129 million. Not saying it will be five years $100 but it won't be $129 million
— Frank Isola (@FisolaNYDN) July 12, 2014
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After being publicly courted by the Chicago Bulls, Houston Rockets, Dallas Mavericks, and Los Angeles Lakers in addition to the Knicks before the July 4th holiday weekend, it became widely assumed that Anthony would re-sign with New York. And despite multiple reports to the contrary over the past week including one yesterday, that ultimately proved the case.
Phil Jackson initially balked at giving Anthony a max-level contract, and these reports indicate that he and ‘Melo ultimately met somewhere in the middle financially. The Zen Master recently told ESPN that he “really struck a chord” with Anthony in recent conversations, and that the two had aligned visions for the future of the Knicks. And though nothing is official until the ink is dry, Carmelo potentially taking a minor pay-cut supports that sentiment.
Bringing Anthony back is a huge step for New York, but it’s just one stride on a long trek back to relevance. And given the Knicks’ financial straightjacket, Carmelo won’t know if he made the right decision until next summer at the earliest. This is a choice made on finance and faith – let’s hope it pays off for him.
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