One More Year: New York Knicks Spend 14.2 Mil to keep Chauncey Billups

27 Apr

The New York Knicks decided not to buy out the contract of point guard Chauncey Billups on Wednesday, ensuring he will be with the team for his full $14.2 million salary for the 2011-12 season.

The Knicks had until Friday to pick up the option or pay Billups a $3.7 million buyout.

“Chauncey, Amare [Stoudemire] and Chauncey [Billups] are a great nucleus, as we continue to look to improve our team going into the offseason,” Knicks president of basketball operations Donnie Walsh said in a statement. “Chauncey is an extremely talented and experienced point guard — we are very happy to have him back.”

The 13-year veteran missed three of the Knicks’ four playoff games, all losses, to the Boston Celtics after straining a knee tendon late in Game 1 of their Eastern Conference first-round series.


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