New York Knicks guard J.R. Smith has reportedly declined his option, but still intends to re-sign with the Knicks for a longer period of time (via Howard Beck's Twitter). Smith has previously been expected to decline the one-year option worth $2.48 million and perhaps test the free agency waters this offseason.
Smith played as a reserve for the Knicks last season, starting just once out of his 35 appearances for New York. He averaged 12.5 points (the same as his career average), 3.9 rebounds and 2.4 assists per game for the Knicks last season. Both his rebound and assist totals for the Knicks were slightly higher than his career averages. During the postseason, Smith averaged 12.2 points, 2.6 rebounds and 2.2 assists for New York.