Kristaps Porzingis' Contract Option Reportedly Picked Up by Knicks

The New York Knicks reportedly exercised a team option in the contract of power forward Kristaps Porzingis for the 2018-19 NBA season.

On Friday, Ian Begley of ESPN passed along the news, which was first reported on Real GM's transaction wire.

Porzingis, who's set to make $4.5 million for the upcoming 2017-18 campaign, will earn just under $5.7 million the following season, per Spotrac. The Knicks can also give him a qualifying offer worth $7.5 million for 2019-20 before he becomes a restricted free agent.

While it's merely a procedural move—the Knicks were never going to let him enter free agency early—it's a sign of stability after a rumor-filled start to the offseason.

In June, Adam Zagoria of ZagsBlog reported the Philadelphia 76ers, Phoenix Suns, San Antonio Spurs and Boston Celtics were among the teams who reached out to the Knicks about a possible blockbuster trade for the forward amid his speculated availability.

Talk about potentially moving Porzingis faded away after the Knicks and former team president Phil Jackson agreed to part ways in late June, though.

The 22-year-old Latvia native told Shaun Powell of NBA.com earlier this month he's happy in New York and can "envision" winning a championship there.

"So far it's been tough in New York, but my journey is only beginning and I hope to stay there my whole career, so as a city we can have some fun and win some games and do something big," Porzingis said. "For me, it's now home."

He's coming off a season where he averaged 18.1 points, 7.2 rebounds and 2.0 blocks while shooting 45 percent from the floor, including 35.7 percent from beyond the arc, in 66 games. He also ranked seventh among power forwards in Estimated Wins Added during his second NBA season.

With the trade rumors seemingly in the rear-view mirror, Porzingis should settle in as a key building block as the Knicks attempt to become contenders in the Eastern Conference.