Carmelo Anthony has agreed to re-sign with the New York Knicks on a five-year, $120 million contract, Yahoo Sports reports.
The All-Star forward considered potential offers from the Los Angeles Lakers, Houston Rockets and Chicago Bulls, but instead chose to remain with the Knicks, who could offer him the longest and most lucrative contract.
Forward Pau Gasol’s agreement with the Bulls took Chicago out of the running for Anthony, making his return to New York more likely. The Knicks have aggressively tried to trade forwards Amare Stoudemire and Andrea Bargnani in order to create cap space for both Anthony and Gasol, but were unsuccessful in those attempts. Stoudemire and Bargnani will be free agents after the upcoming season, allowing the Knicks to be major players in free agency a year from now.
Anthony averaged 27.4 points and 8.1 rebounds per game for the Knicks last season.