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Knicks Sign Issue Sheet with Tim Hardaway Jr. for $71 Million

Report: Tim Hardaway Jr. deal to help renew Carmelo Anthony trade discussions with Houston

This will help them to bring on restricted free agent Tim Hardaway Jr., to whom they offered a four-year, $71 million deal on Thursday.

Tim Hardaway Jr.is ready for his second stint with the New York Knicks. Many are questioning the amount the Knicks are willing to pay for a player that has those kinds of numbers, especially for 1 who has a reputation of being a liability on defense. The Knicks made an expensive offer to Hardaway to deter Atlanta from matching it.

The Knicks' offer sheet to Hardaway contains a 15 percent trade kicker and a player option in the fourth year, and it also includes an unusual provision requiring the team to pay 50 percent of Hardaway's annual salary by October 1 of every season, according to league sources.

It's no surprise that the Hawks, who are now in full rebuild mode after not even offering Paul Millsap a contract, decided not to match what may be the worst contract of the entire summer. Last season, he had career highs in scoring (14.5), assists (2.3), rebounds (2.8), minutes (27.3) and field-goal percentage (.455).

Mills has all but confirmed the youth movement in his explanation of the Hardaway Jr. signing.

"They're nuts", wrote another agent.

The biggest move looming of the Knicks remains the status of Carmelo Anthony. NY recently fired its president of basketball operations, Phil Jackson, as well. The club is looking for a veteran point guard to mentor rookie Frank Ntilikina but has limited resources to find one.