It's been in the works since Friday, and on Monday, it reportedly became a done deal. Amar'e Stoudemire has agreed to a five-year, $100 million deal with the New York Knicks, this according to Yahoo!'s Adrian Wojnarowski. Apparently, NBA free agent negotiations do not take holidays.
Stoudemire's agent, Happy Walters, was quoted as saying, "All done."
Per league rules, no deals can become official until July 8.
Expect more reaction and details as it develops. In the meantime, head over to our Knicks blog, Posting and Toasting, where the celebrating has already started.