Knicks Sign Jason Kidd

3:40pm: Despite reportedly being close to a three-year deal to return to the Mavericks earlier in the day, Jason Kidd has changed course and will sign a multiyear contract with the Knicks, reports ESPN.com's Marc Stein. According to Stein, the Mavs thought they'd finalize a three-year, $9MM deal with Kidd, but after negotiating all day with both clubs, the veteran point guard has agreed to join the Knicks.

After Deron Williams decided to re-sign in Brooklyn, Kidd narrowed his choices down to Dallas and New York. According to Stein, the 39-year-old was ultimately swayed by the chance to help turn the Knicks into a legit contender and to mentor Jeremy Lin -- so presumably the Knicks will be matching any offer sheet that Lin signs. Of course, with the possibility of a sign-and-trade for Raymond Felton also out there, I'm not about to make any guarantees.

The Knicks will likely sign Kidd using their mini mid-level exception, worth $3.09MM, though it's possible that the team could acquire him via a sign-and-trade. Either approach would still allow the Knicks to match offers for Lin, Landry Fields, and Steve Novak, if they so choose.