7:30pm: The signing is official, the team announced.
7:19pm: The Knicks have re-signed center Cole Aldrich reports Marc Berman of the New York Post (Twitter link). The length and terms of the contract have not been announced yet.
In 46 games last season for New York, Aldrich averaged 2.0 PPG, 2.8 RPG, and 0.3 APG in 7.2 minutes per contest. His slash line was .541/.000/.867.
The team has also announced that they have waived Lamar Odom. In regards to Odom, the press release stated, “Unfortunately, Lamar was unable to uphold the standards to return as an NBA player.We found it necessary to free up the roster spot.” This move could mark the end of Odom’s NBA career.