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Knicks sign Tim Hardaway Jr. to $71 million offer sheet, 2 years after trading him away

Atlanta can choose to match Hardaway Jr.’s contract if they want, given that he’s a restricted free agent.

NBA: Playoffs-Atlanta Hawks at Washington Wizards Geoff Burke-USA TODAY Sports

Tim Hardaway Jr. and the New York Knicks have agreed to a four-year, $71 million offer sheet, according to The Vertical’s Shams Charania. The deal includes a player option in the fourth year as well as a 15 percent salary increase if traded.

Since Hardaway is a restricted free agent, the Hawks now have two days to decide whether they want to match his offer sheet and keep him in Atlanta. If they decline to do so, only then will Hardaway join the Knicks officially.

Hardaway broke out with Atlanta last season, averaging career highs in points (14.5), field goal shooting (45.5 percent), minutes (27.3), assists (2.3) and three-pointers (1.9). It was a promising development for the 25-year-old, who only played 51 games last year.

Amusingly, Hardaway was a Knick just two seasons ago, only for them to trade him for Jerian Grant straight up. Grant will make $1.7 million next season and isn’t nearly as good as Hardaway. The Knicks could have just kept Hardaway, but now they’re left trying to re-sign him after dealing him away.

Of course, New York’s front office is different now that team president Phil Jackson is out. Still, it’s as Knicks-y a thing as anyone could dream up.