Jennings confirmed his release on Twitter:
Detroit Pistons general manager and head coach Stan Van Gundy told reporters Jennings' agent said the point guard would join the Charlotte Hornets. However, ESPN's Marc Stein reported Charlotte is happy with backup point guard Briante Weber, and wouldn't be pursuing Jennings.
Some members of the Golden State Warriors organization would prefer picking up Jennings over Jose Calderon, however, they are too far along in the process of picking up the former Los Angeles Lakers point guard, per ESPN's Chris Haynes.
The 27-year-old Jennings was in his first season with the Knicks and averaged 8.6 points, 2.6 rebounds and 4.9 assists per game as the primary backup to Derrick Rose.
While his productivity has dropped off sharply over the past two seasons, he averaged 16.6 points, 3.2 rebounds and 6.2 assists per contest during his first six NBA campaigns. He also ruptured his Achilles tendon in January 2015.
With the Knicks sitting in 12th place in the Eastern Conference at 24-35 and trailing the Detroit Pistons by four games for the eighth spot, New York wasn't likely to contend this season.
Jennings is set to hit free agency during the offseason, so he could be a depth rental for a playoff-contending team. Randle, meanwhile, averaged 5.3 points in eight games for the Sixers before getting waived in the wake of Nerlens Noel's trade to the Dallas Mavericks.
A 6'1" guard, he went undrafted in 2015 out of Stanford, though he was on New York's roster during this preseason and played for the NBA Development League's Westchester Knicks before Philadelphia signed him to a 10-day contract in January.