2:22pm: Marc Stein of ESPN.com has the figures for all five seasons (on Twitter): It’s the maximum $22,458,401 in year one, followed by a discounted raise to $22,875,000 for year two, and maximum raises that bring Anthony’s salaries to $24,559,380, $26,243,760 and $27,928,140 in the final three years. That brings the total value to $124,064,681, exactly $5,071,124 less than the maximum for which he could have signed.
8:42am: Anthony will receive his maximum salary in the first year of his deal, according to Marc Berman of the New York Post. That precise max is $22,458,401, and it allows for a raise worth $1,684,380 each season. However, Anthony’s raise for the second season of the deal is $400K, Berman reports, adding that the contract will also include a 15% trade kicker should Anthony decide to waive his no-trade clause.
7:19pm: The deal also includes a no-trade clause, according to Frank Isola of the New York Daily News (Twitter link).
TUESDAY, 7:00pm: Anthony’s contract will be for $124MM over five years, sources tell Ian Begley of ESPNNewYork.com, who adds that Anthony will have an early termination option after the fourth season. The deal – which starts at $22.5MM in the first year – includes a “slight increase” in the second year followed by “larger increases” thereafter (Twitter links).
MONDAY, 10:05am: Anthony took a discount, Jackson confirms, and while the deal is for an estimated $122-123MM, the total value remains unclear, as Marc Berman of the New York Post details.
SUNDAY, 11:54am: Phil Jackson also confirms the pending agreement via the Knicks official Twitter account (Twitter links). Jackson said, “After 3 months of questions around Carmelo Anthony’s return to the NY Knicks we are now happy to know that we have the cornerstone of what we envision as a team of excellence. Steve Mills and I have assured Carmelo through our conversations, that we share the vision and the determination to build this team.”
SUNDAY, 11:28am: Anthony has confirmed he will be returning to New York via his website. In his announcement, ‘Melo said, “This organization has supported me and in return, I want to stay and build here with this city and my team.” Contract details have not been announced yet.
1:10pm: The deal is for five years and more than $120MM, but the final amount is undetermined, and Anthony may still accept less than the max, sources tell Wojnarowski.
SATURDAY, 12:05pm: Carmelo Anthony will inform the Knicks of his decision to re-sign in New York within the coming hours, tweets Adrian Wojnarowski of Yahoo! Sports. Frank Isola of The New York Daily News first reported Anthony’s intention to return to New York earlier this week, but the former scoring champ appeared to fluctuate over the last few days in deciding between the Knicks, Lakers and Bulls. ‘Melo will sign a five-year contract. The deal will presumably be for a maximum salary of $129MM, although Knicks president Phil Jackson has suggested that there were multiple salary structures on the table for Anthony.
Anthony, ranked second in the Hoops Rumors Free Agent Power Rankings, was encouraged by the momentum Jackson had garnered the franchise, which included hiring Derek Fisher as head coach and acquiring Jose Calderon via trade. The Bulls offered ‘Melo the best opportunity to contend in the upcoming season, but were unable to offer nearly as much annual salary or as many years as New York, who exercised their Bird Rights to extend the winning bid to retain the All-Star.
The client CAA client will remain in New York for the duration of his prime, after coming to his home state in a 2011 trade from Denver. Since joining the Knicks, ‘Melo has put up some of his most effective seasons as an individual, but seen mixed results as the centerpiece for a blockbuster team. The Knicks have won a single playoff series since obtaining Anthony.
A series of poor decisions had turned the Knicks from hopeful contenders to a laughing stock to many last season, in which they finished 37-45. The hefty contracts for Anthony, Amar’e Stoudemire, Tyson Chandler, and Andrea Bargnani left the team with no cap flexibility, and a history of parting with draft selections and prospects had them headed toward the 2014 draft with no picks. However, Jackson was able to swing a series of moves that sent Chandler to Dallas and earned New York multiple second round picks.
‘Melo will hope Jackson, who has managed some of the game’s greats to many titles as a coach, can work some of the same magic as an executive. Jackson will work with Fisher to implement his triangle offense around Anthony’s strengths. Anthony’s belief in the future of New York will likely play a large part in determining his legacy, and whether he ever finds prolonged success in the playoffs. Anthony has standout averages of 25.3 PPG and 6.5 RPG for his career.
Photo courtesy of USA Today Sports Images.