Knicks to waive Chris Smith, make room for Jeremy Tyler

The New York Knicks have decided to waive reserve guard Chris Smith as they prepare to finalize a deal with current D-League standout Jeremy Tyler, reports ESPN New York's Ian Begley. The Knicks had also considered waiving big man Cole Aldrich before settling on releasing Smith.

The team doesn't save any money by waiving Smith, whose $490,814 salary is already guaranteed. The brother of Knicks guard J.R. Smith leaves the team after playing just two minutes the entire season and spending some time with the Erie Bayhawks, which is also Tyler's current club.

Smith caused quite the controversy since making the Knicks' 15-man roster. Knicks coach Mike Woodson was open about the signing having to do with Smith's brother being on the team, but the league even investigated to determine if the signing was a package deal. The brothers share the same agent, Leon Rose.

Tyler was a part of the Knicks' summer league team and was signed to a partially guaranteed deal before injuring his foot. He didn't make the final cut before the season but has averaged 18 points and 10 rebounds with the Bayhawks this season. The 22-year-old had his most successful season two years ago, averaging 4.9 points and 3.3 rebounds per game as a rookie with the Golden State Warriors.

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