Updated: July 10, 2012, 7:15 am ET

J.R. Smith to Re-Sign with Knicks

By HOOPSWORLD
Basketball News & NBA Rumors

Free agent J.R. Smith has agreed to return to the New York Knicks.

The veteran shooting guard will sign a two-year contract worth $2.8 million, two league sources told ESPNNewYork.com. The deal is guaranteed for the first season and contains a player option for the second season.

“I have decided to re-sign with the Knicks. I just felt that, despite my other options, New York is the best situation for me,” Smith said in a statement released to ESPNNewYork.com. “Coach (Mike) Woodson showed a lot of faith and trust in me last season, as did (Knicks owner) Mr. (James) Dolan and the organization.

via Ian Begley of ESPN New York

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