So, after all that, Isiah Thomas officially will not work for the New York Knicks.
Thomas' quote, from the New York Times:
After speaking with Commissioner Stern and Knicks executives, it has become apparent that my new agreement violates certain NBA bylaws. Because of this, I have decided to rescind my contract with the team.
Thomas’ statement for the press also included his admission that the Knicks’ sub-par play while he was the President of Basketball Operations, General Manager, and, of course, coach, remains “one of the biggest regrets of my life."