J.R. Smith Signs With New York Knicks

J.R. Smith has signed with the New York Knicks, he confirmed on his Twitter account on Friday morning. The former Nuggets guard, who has been playing in China all season, will likely sign for the Knicks' "room" exception of $2.5 million.

The Knicks won the Smith sweepstakes over the Los Angeles Clippers, who were hoping the prospect of a starting job and Smith's friendship with star point guard Chris Paul would push them to the top. Instead, Smith has decided to join Linsanity and the rest of the Knicks' unique mix of players.

To make room for Smith, the Knicks will release Renaldo Balkman, according to Tommy Dee of The Knicks Blog.

Smith had spent the last five seasons with the Nuggets before signing to play in the Chinese Basketball Association during the lockout. The league has a stipulation that players cannot leave their teams in the middle of the season, so Smith had to wait until his team was eliminated from playoff contention before returning to the NBA.

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The New York Knicks are closing in on agreeing to a contract with free-agent shooting guard J.R. Smith, reports Frank Isola of the New York Daily News. If the Knicks do eventually seal the deal, they will have beaten out the Los Angeles Clippers and several other teams for his services.

It remains unclear how much Smith will receive, but to make it happen, the Knicks will have to release or buy out one player, Isola reports. The deadline for non-guaranteed contracts to become guaranteed has passed, so a buyout is the likely route. Possible candidates include Josh Harrellson and Jerome Jordan. They surely do not include Jeremy Lin, who was on the chopping block before his stunning turnaround.

Smith played for the Denver Nuggets last year before signing a free-agent contract to play in China. The Chinese Basketball Association prohibits players from leaving their contracts to return to the NBA midway through the season, but Smith's team in China was just eliminated from playoff contention.

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J.R. Smith, who is now able to sign an NBA contract after his team's Chinese Basketball Association season has ended, has spoken with the L.A. Clippers' Vinny Del Negro, the coach told ESPN on Wednesday. The Clippers have long been considered a frontrunner for the gunner's services, having used Chris Paul -- a one-time teammate of Smith in New Orleans -- to help recruit the shooter.

The Orlando Magic, however, will not be among Smith's suitors. The Orlando Sentinel reports that though Smith listed the Magic as a potential destination in a coy tweet, Orlando GM Otis Smith said that the team, despite its perimeter scoring trouble, is not interested in the guard.

That really leaves the New York Knicks as the Clippers' primary competition. Despite Jeremy Lin's emergence, New York still has a dearth of long-range shooters. Smith is a career 37.1 percent three-point shooter; nearly half of his attempts have come from beyond the arc.

Former Denver Nuggets shooting guard J.R. Smith will be a free agent as soon as he returns from his lockout vacation in China. He likely won't be on the open market for long, however, as there are a few teams that seem ready to sign him upon entry into America.

The New York Knicks and Los Angeles Clippers are both still interested, meaning not a lot has changed since last week's report, but the Clippers have become a more attractive option as of late. Not only can the now offer a starting spot as Chauncey Billups is out for the season, but Smith's being recruited as well, according to ESPN's Ramona Shelburne.

Like Billups did with recently-signed Kenyon Martin, point guard Chris Paul has taken a lead role in recruiting Smith, according to the source. The two are close from their two seasons as teammates with the Hornets.

The Clippers still can't offer Smith a lot of money, and it seems Smith and Carmelo Anthony have some connection as well, but it certainly can't hurt to have the best point guard in the game helping recruiting efforts for the Clippers.

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