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Report: New York Knicks Pick Up $14.2 Million Option on Chauncey Billups for Next Season

by Seth Lakso on Wed, Apr 27, 2011 at 5:14PM

The Knicks had to play their final three playoff games without 13-year veteran point guard Chauncey Billups. Given the drop-off they saw in performance during that stretch, it’s not all that surprising that they’d want “Mr. Big Shot” back next season.

And according to Chris Sheridan of ESPN.com, New York will have him back. Sheridan is reporting that the Knicks picked up the $14.2 million option on Billups for the 2011-12 season on Wednesday.

The Knicks’ deadline to pick up the option or pay Billups a $3.7 million buyout was set to expire Friday.

In 21 regular season games with the Knicks, after coming over along with Carmelo Anthony from the Denver Nuggets, Billups reminded everyone that he wasn’t just a throw in player, averaging 17.5 point per game and 5.5 assists.