This is Sprewell's second stint with the team, his first coming between 1998-2003.
It was reported that the Knicks have signed Sprewell to a three-year, $18 million contract.
The deal comes off as suspicious, considering Donnie Walsh's cap saving approach that he he has been following aggressively during his time with the Knicks.
"Latrell is an extremely talented basketball player who has proven to the basketball community that he can play," says Walsh, who has been the Knicks President of Basketball Operations since April 2008.
It seems Walsh is the only one who thinks this is a good move.
"We were heading in the right direction. We had it made. We had the money for LeBron, and now this? Donnie, this is not the right guy. We had it made. We had it made! Don't be making these moves," says dedicated Knick fan Spike Lee.
And it's not only the fans who are responding in a negative fashion.
"I've played with Stephon Marbury. I know how to deal with tough, in-your-face players. But Latrell Sprewell is beyond in-your-face. He's an idiot. I can't think of a better way to explain it. He's a flat out idiot. And a selfish one. I do not look forward to playing with him," says Jared Jeffries, a forward for the Knicks.
Sprewell was widely recognized as one of the most talented players during his time in the league, and especially with the Knicks. In all five seasons with the Knicks, Sprewell never averaged less than 16 points per game.
But with the on-the-court effectiveness came the off-the-court drama.
The man that some consider to be the Terrell Owens of basketball, Sprewell had continuous issues throughout his NBA career, and sometimes his off-the-court problems would affect his time on the court.
In 1997, while a member of the Golden State Warriors, he choked his coach, P.J. Carlesimo, and was suspended for most of the season.
The incident would stick with him throughout the rest of his career.
"This is a great opportunity, I feel like I really deserve it. People have always called me crazy for all the contracts I turned down, people hating on me. But I told them that the right contract was out there, and I finally found it," Sprewell said, in a happy tone.
When asked about his past behavior off the court, Sprewell was quick to shoot it down.
"It's the past. Now is now. I'm not even going to talk about it. I have three great years ahead of me, and that's what I'm focusing on right now."