Posted Jul 9 2012 5:12PM - Updated Jul 9 2012 5:31PM
NEW YORK (AP) -- Steve Novak is returning to the New York Knicks with a four-year deal worth $15 million.
Novak's agent, Mark Bartelstein, says the deal is a reward for a player who finally got his opportunity and took advantage of it. The Knicks claimed him after he was waived by San Antonio and Novak went on to lead the NBA in 3-point shooting at 47.2 percent.
Novak may not have been able to return without a challenge by the union to claim his "Bird Rights," allowing the Knicks to exceed the salary cap to keep him. Previously, players only kept their Bird Rights if traded, but the players' association successfully argued that players claimed off waivers should, too.
The deal can't be signed until Wednesday after next year's salary cap is set.
|Extra Stuff: Conley on Joerger|
Mike Conley talks about David Joerger's role on the Grizzlies.
|Extra Stuff: Conley is Ambidextrous|
Mike Conley talks about how he developed being Ambidextrous.
|Inside Stuff: Patrick Beverley|
Patrick Beverley of the Houston Rockets pays a surprise visit to a school in New York City
|Inside Stuff: Jam Session|
Dillon Francis lays down the soundtrack for this week's Jam Session with his single 'When We Were Young'.
|Inside Stuff: Mike Conley|
Kristen Ledlow sits down with Grizzles Mike Conley and talks about what drives him, how great the team is doing this year.