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Knicks' Smith declines contract option, will become free agent

Associated Press

6/26/2012 8:51:34 PM

NEW YORK - The New York Knicks say JR Smith has declined his second-year contract option and will become a free agent.

The Knicks could still re-sign the reserve swingman, who averaged 12.5 points last season, when he becomes a free agent Sunday. He was scheduled to make about $2.5 million next season but could earn slightly more by signing a new deal with the Knicks.

Smith joined the Knicks in February after playing in China during the lockout. He informed the Knicks of his decision on Tuesday.