Elfrid Payton reportedly signing a two-year deal with the Knicks

The New York Knicks have signed free agent point guard Elfrid Payton to a two-year, $16M deal, per Shams Charania of The Athletic.

What It Means:

Payton played well down the stretch for the New Orleans Pelicans but the guard is expected to only sere a backup role behind Dennis Smith Jr. in New York. The deal contains a team option for the second year, leaving the Knicks with flexibility and cap space again next summer.