Derrick Williams Signs with Heat: Latest Contract Details, Reaction

The New York Knicks renounced Derrick Williams' rights on Friday, per ESPN.com's Ian Begley, and it didn't take long for the unrestricted free agent to find a new home. 

According to The Vertical's Adrian Wojnarowski, Williams and the Miami Heat agreed to a one-year deal worth $5 million on Friday.

Williams announced his plans to join the Heat on Twitter:

"

Excited for the opportunity to play for the @MiamiHEAT ! World class organization .. Going to be awesome learning from @CoachSpo

— Derrick Williams (@DWXXIII) July 8, 2016"

Williams won't be perceived as a flashy signing, but the 25-year-old put together a solid, under-the-radar 2015-16 season with the Knicks.

In 80 appearances, including nine starts, he averaged 9.3 points, 3.7 rebounds and 0.4 steals while shooting 45 percent from the field and 29.3 percent from three. 

Despite the underwhelming overall conversion rate from long distance, Williams actually settled into a strong rhythm in catch-and-shoot situations from the corners. All told, he made 41.5 percent of his corner threes—shots that accounted for 35.3 percent of his total attempts from beyond the arc. 

Physically speaking, Williams' athleticism is still his greatest asset. At 6'8" and 240 pounds, he has the size to body up opposing power forwards and the quickness to hound smaller wings on occasion.  

With the Heat, Williams will likely serve as a combo forward who can offer quality minutes behind Justise Winslow, Chris Bosh and Josh McRoberts. Williams will also give head coach Erik Spoelstra some peace of mind at the 4 if Bosh continues to encounter setbacks stemming from the blood clot condition that ended his last two seasons early.

So even though Williams' game may still lack polish in several key areas, he could wind up being a strong value signing as the season progresses.

And with Spoelstra at the helm, don't be surprised if the seasoned Heat boss winds up extracting every ounce of potential the former lottery darling has left.

Stats courtesy of Basketball-Reference.com.