The New York Knicks have announced that they will sign an extension for veteran point guard Chauncey Billups. The Knicks will pay Billups $14.2 million next season, instead of $3.7 million if they had cut him within the first five days of the 2011-2012 season.
Billups had joined the Knicks during the trade deadline in February, but this latest contract extension will allow him to spend and entire season with his new team. Billups missed three of the Knicks four playoff games in 2010, and the team could not find a replacement for him in time.
The Knicks will have a productive "Big 3" for next season, and they can challenge the Celtics and Bulls for the Eastern Conference crown.
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