UPDATE (2:38 p.m. ET)
Adrian Wojnarowski of the Yahoo Sports reports that Anthony will indeed sign for a contract worth at least $120 million. He is expected to announce his decision tomorrow.
Carmelo Anthony will sign a five-year, $120 million-plus contract to return to the New York Knicks, league sources told Yahoo Sports.
Anthony considered the Chicago Bulls, Los Angeles Lakers and Houston Rockets before deciding to re-sign. He notified the other teams on Saturday that he’s returning to New York.
Anthony might still take less than the maximum $129 million the Knicks can give him, a source said.
Anthony is expected to publicly announce his return on Sunday.
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New York Knicks fans can breathe a sigh of relief. Carmelo Anthony is staying in his home state.
According to ESPN's Stephen A. Smith, Anthony is negotiations to re-sign with the Knicks. With Melo returning to New York, he has informed the Chicago Bulls and Houston Rockets that they can pursue other free agents now.
It's unknown what deal Anthony has received since president Phil Jackson offered five different contracts for the small forward, sources say. Anthony was received the max deal of $129 million over five years.
It seemed that the Bulls got out of the picture for Anthony after Chicago tried pursuing Pau Gasol on Friday night. The Rockets never seemed to fully be in the picture, and the Los Angeles Lakers were out of the mix.
It makes sense for Anthony to return. I highlighted all of that here.
I guess this can help the NBA's power balance again with no more super teams, but now just duos. Now we're seeing duos like Dwight Howard and James Harden, Chris Bosh and Dwyane Wade, LeBron James and Kyrie Irving, and more.
I'm liking this. Dominoes are falling fast now in free agency.
