According to Sportingnews.com, the Knicks have signed point guard Mike Bibby to a one year deal, and are pushing to acquire J.J. Barea as well.

After putting longtime veteran Chauncey Billups on waivers today, the Knicks lacked depth at the point guard position.  Mike Bibby could very well fight for the starting job over Toney Douglas, and you know that J.J. Barea would be a consideration as well if they would be able to acquire him.  

We know that Bibby is old and washed up, but the Knicks needed a point guard badly, and he could try and prove himself this preseason.