According to ESPN’s Shams Charania, the New York Knicks and Landry Shamet have come to terms on a new contract agreement. While Shamet had multiple other offers, especially those with a higher dollar amount, he chose to come back for less to defend the title with the organization.

New York is set to pay the 29-year-old $24 million over the next four years.

The story of Shamet with the Knicks is quite remarkable, as he went from being a minimum contract veteran on a training camp invite to being a legitimate part of the Knicks’ championship success with his perimeter shooting coming off the bench.

According to ESPN’s Shams Charania, the New York Knicks and Landry Shamet have agreed on a one-year deal. This will see him have another season with New York.

Last season saw the 28-year-old appear in 50 games and average 5.7 points and 1.2 rebounds per game.

New York throughout the offseason has acquired backcourt depth in Shamet, Jordan Clarkson, and Malcolm Brogdon.

According to ESPN’s Bobby Marks and Shams Charania, the New York Knicks are waiving Landry Shamet after he suffered a dislocated right shoulder.

The 27-year-old agreed to a non-guaranteed Exhibit 9 contract earlier in the offseason; many within the organization expected him to make the roster and have quality minutes. However, this injury has derailed those plans.

New York has three roster spots available; they must sign two players to meet the required 14-player roster.

When Shamet gets healthy, they will consider bringing him back.