New York Knicks Expected To Retain Donnie Walsh, According To Report

Donnie Walsh will likely be retained as president of the New York Knicks, reports Howard Beck of the New York Times. The Knicks have a team option on Walsh's contract for the 2011-12 season, but Beck reports that Walsh and Knicks franchise owner James Dolan could agree to a two-year extension before Walsh's contract officially expires on June 30.

Walsh took over from Isiah Thomas in 2008, and largely repaired the franchise's basketball operations. The Knicks made the NBA Playoffs this season for the first time since 2004, thanks in large part to Walsh's offseason acquisition of Amar'e Stoudemire. The Knicks also traded four rotation players (including three regular starters) for Carmelo Anthony at midseason, but the team didn't perform appreciably better with 'Melo until the final weeks of the regular season.

The Knicks were swept out of the playoffs by the Boston Celtics.

Separate from Walsh, the Knicks have a decision to make on Chauncey Billups by Friday. The Knicks can retain Billups for a $14 million salary for next season, or waive him. If the team waives the veteran point guard, New York would owe Billups $3.7 million. The Knicks are ridiculously shallow at point guard, and there are few good point guards available in free agency.

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