New York Knicks News: Carmelo Anthony Is Back, Likely To Get A Pay-Cut In Early Years Of Contract

After anxious days waiting for the latest New York Knicks news, Knicks fans can now relax and breathe as their priced superstar Carmelo Anthony has decided to re-sign. 

According to Anthony himself in his website ThisIsMelo.com, he has dreamed of returning to his roots in New York where he was born, and the 2011 NBA free agency allowed him to do just that. Melo added that he believes Knicks president Phil Jackson has enough championship experience to make New York a championship team. 

In the report by Bleacher Report, while the initial offer to Anthony was $129 million in a span of five years, Melo will reportedly accept a pay-cut for the initial years of his contract. That brings down the total contract to more or less $120 million in five years. 

Weeks before the free agency began, rumors around the league have already been claiming that Anthony would leave the Knicks into free agency and move on to another team. 

Apparently, only half of those rumors were true. 

Days before free agency, Melo's agent Leon Rose released a statement regarding his player's decision.

"At this stage of his career, he just wants to explore his options." 

And Melo did just that. Explore. 

The 30-year-old scoring machine had a number of suitors during the free agency period, and New York Knicks news always bring anxious moments to Knicks fans who may have just seen the last of their homegrown talent. 

Some of the teams which had hoped Anthony would hope in their win-now promises include the Chicago Bulls, Houston Rockets, Dallas Mavericks and the Los Angeles Lakers. 

Some fans and experts have also seen Anthony make the most practical move to go to the Bulls and become an instant contender deep in the Playoffs, or even compete at the NBA Finals. 

However, just like what LeBron James did this weekend, Melo chose to be home. 

Now that the two biggest names in free agency has made their choices, other stars should be getting their offers soon from Anthony's suitors who are now scrambling to revamp their respective lineups.