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NBA Free Agency 2012: J.R. Smith Re-Signs With Knicks, According To Sources

Check one more issue off the New York Knicks off-season list. On Tuesday, the Knicks and shooting guard J.R. Smith agreed to a new two-year deal worth $2.8 million, NBA sources are telling's Ian Begley. Smith is expected to be the Knicks starting shooting guard next season with Iman Shumpert recovering from a knee injury.

"I have decided to re-sign with the Knicks. I just felt that, despite my other options, New York is the best situation for me," Smith said in a statement released to "Coach (Mike) Woodson showed a lot of faith and trust in me last season, as did (Knicks owner) Mr. (James) Dolan and the organization.

"My teammates are great to play with and New York fans are the best. I can't wait to get started."

Last season, Smith averaged 12.5 points while shooting 34.7-percent from behind the 3-point arc.

Smith joins reserve forward Steve Novak in returning to the Knicks, who now will focus on re-signing point guard Jeremy Lin.

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