Report: New York Knicks Sign Mike Bibby to One-Year Deal

After waiving Chauncey Billups and signing Tyson Chandler, the Knicks will need a ball-handler this season, and it looks like they have their answer. According to the NY Post, New York has signed point guard Mike Bibby to a one-year deal: “Mike Bibby has agreed in principle to a one-year deal at the veteran’s minimum of $1.4M, according to an NBA source. As reported in today’s Post, the Knicks do not necessarily view Bibby as a starter over Toney Douglas and they will likely fight it out for the job. There’s also a possibility of adding another PG, but an NBA source said they are not in the hunt to land Dallas’ J.J. Barea despite internet chatter.The Knicks only have the $2.5M mini exception for teams under the salary cap. Because of the Tyson Chandler deal, they forfeited their $5M mid-level exception that could have landed Barea. ‘It’s a good name, he’s a veteran point guard,” Mike D’Antoni said at the press conference for Tyson Chandler. The Knicks need for another PG arose when Chauncey Billups was officially waived yesterday via the amnesty clause to make room under the cap. The Knicks also dispatched young PG Andy Rautins to Dallas as part of the Chandler, three-team sign and trade. The Knicks were in talks since last night with Bibby’s agent David Falk, who ironically is also the representative for Toney Douglas.”