Peters, 21, averaged 11.9 points, 5.2 assists and two rebounds in 30.1 minutes per game during his junior season at Mississippi State last year, earning a spot with New York’s summer league team after going undrafted.
Peters is now set to compete in training camp with the franchise to start his professional career. The Knicks are coming off a busy offseason, signing players such Julius Randle, Elfrid Payton, Marcus Morris, and others on new deals during the free agency period.
The Knicks have 15 players on guaranteed contracts, plus one on a two-way contract. Peters joins Amir Hinton, V.J. King, Kenny Wooten, and Kris Wilkes (two-way) as players who have reportedly reached deals with New York that have not yet been finalized.