The forward had initially agreed to a two-year, $20 million deal with the San Antonio Spurs but reconsidered his arrangement when the Knicks secured more cap space, per Adrian Wojnarowski and Marc Spears of ESPN.
New York added additional room after reworking its deal with Reggie Bullock due to injury question marks.
To make matters worse for the Spurs, they had specifically created space for Morris:
San Antonio has decided to use a portion of that money on Trey Lyles after pulling the offer for Morris, per Wojnarowski.
Meanwhile, the Knicks add a veteran presence in the post who has averaged at least 13 points per game in each of the past four seasons.
Last season, the 29-year-old scored 13.9 points and nabbed a career-high 6.1 rebounds per game while shooting 37.5 percent from three-point range. He has been a consistent producer in recent years with the Boston Celtics, Detroit Pistons and Phoenix Suns, also bringing a level of toughness to each team.
His experience both in the regular season and playoffs could be valuable for a young New York roster in 2019-20.
On the other hand, minutes could be difficult to come by after the team also added Julius Randle, Bobby Portis and Taj Gibson this offseason. Young players like Mitchell Robinson and Kevin Knox will also need playing time to help them develop.
Head coach David Fizdale will have to figure out how to work his rotation with so many capable players now on the squad.