NBA Rumors: J.R. Smith and New York Knicks Reportedly Agree to 2-Year Contract

J.R. Smith is returning to the Big Apple for at least one more season.

According to Marc Berman of the New York Post, the mercurial shooting guard has settled down with the New York Knicks for a second straight year:

"

J.R. Smith done seeking offers and has accepted #Knicks 20-percent bump to $2.8M. Second year is player option.

— Marc Berman (@NYPost_Berman) July 10, 2012"

Smith, who spent most of the 2011 season with the Zhejiang Golden Bulls in China, made a prorated portion of a $2.5 million contract when he returned to the United States and joined the Knicks.

Now, after putting up 12.5 points, 3.9 rebounds and 2.4 assists per game while shooting 40 percent from the field and 34.7 percent from beyond the arc in 35 regular-season games, Smith is going to get a 20 percent raise and some job security via a player option for the 2013-14 season.

The 6’6”, 220-pound New Jersey native was an integral part of the Knicks bench—which was nicknamed Mob Deep after the hip-hop duo from Queens—and obviously the organization is looking to keep that core together.

New York is likely going to retain emergent point guard Jeremy Lin and has already re-signed three-point specialist Steve Novak. It also added veteran center Marcus Camby to the roster to give depth behind incumbent Defensive Player of the Year Tyson Chandler, per The New York Times.

This stability of the roster, plus the removal of the interim tag from head coach Mike Woodson’s title, should lead to an improved record. Under their new head coach, the Knicks went 18-6 to secure the No. 7 seed in the Eastern Conference. 

While the team managed to win its first playoff game since 2001, it was defeated by the eventual NBA champion Miami Heat in the first round. 

By all accounts, the Knicks should make big strides in the 2012-13 season. Re-signing J.R. Smith is definitely going to play a role in that resurgence.