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Knicks Sign Jason Kidd

July 12th 2012 at 2:25pm CST by Luke Adams

JULY 12TH, 2:25pm: The Knicks have officially signed Kidd, the team announced in a press release.

JULY 5TH, 10:22pm: The Knicks are pursuing a sign-and-trade with the Mavs to acquire Kidd by including non-guaranteed contracts and a draft pick, writes Howard Beck of The New York Times (via Twitter).

3:40pm: Despite reportedly being close to a three-year deal to return to the Mavericks earlier in the day, Jason Kidd has changed course and will sign a multiyear contract with the Knicks, reports ESPN.com's Marc Stein. According to Stein, the Mavs thought they'd finalize a three-year, $9MM deal with Kidd, but after negotiating all day with both clubs, the veteran point guard has agreed to join the Knicks.

After Deron Williams decided to re-sign in Brooklyn, Kidd narrowed his choices down to Dallas and New York. According to Stein, the 39-year-old was ultimately swayed by the chance to help turn the Knicks into a legit contender and to mentor Jeremy Lin — so presumably the Knicks will be matching any offer sheet that Lin signs. Of course, with the possibility of a sign-and-trade for Raymond Felton also out there, I'm not about to make any guarantees.

The Knicks will likely sign Kidd using their mini mid-level exception, worth $3.09MM, though it's possible that the team could acquire him via a sign-and-trade. Either approach would still allow the Knicks to match offers for Lin, Landry Fields, and Steve Novak, if they so choose.

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