J.R. Smith signed a new contract with the Knicks, then — just days later — underwent knee surgery that will keep him out for three- to four-months.
Smith’s deal was originally reported to be for four-years and nearly $25 million.
But now Howard Beck of the New York Times says that Smith’s deal is only for three-years and $17.95 million.
“The precise terms were confirmed Tuesday by a rival team executive and a second person with access to the contract,” Beck said. “Despite the intense scrutiny of the deal, Knicks General Manager Glen Grunwald made no attempt to correct the erroneous reports during a 16-minute conference call with reporters Tuesday.”
Beck says that the contract will set Smith to make $5.57 million next season, $5.98 million in 2014-15 and a third-year player option at $6.4 million.