The New York Knicks will sign former No. 2 overall pick Michael Beasley to a one-year, $2.1 million contract for the NBA’s veteran minimum.
The move will count as a $1.47 million cap hit against the Knicks, who made their signings of rookie Damyean Dotson and second-year player Ron Baker official yesterday.
Since returning from China, Beasley had played well for the Milwaukee Bucks and Houston Rockets. He has maintained an above-average player efficiency rating.
Recent reports indicate Beasley had been offered an annual contract between $3 and $5 million to play in the Chinese Basketball Association. However, it seems his interest was in staying in the United States for his professional basketball career.
Last season with Milwaukee, Beasley averaged 9.4 points and 3.4 rebounds while shooting 53.2 percent from the field and 41.9 percent from three-point range.