Knicks pick up option on Billups

NEW YORK, April 27 (UPI) -- The New York Knicks announced Wednesday they have exercised a one-year option on the contract of point guard Chauncey Billups.

The Knicks obtained Billups from the Denver Nuggets along with Carmelo Anthony as part of a blockbuster deadline trade. They have now decided to keep him around for another year, Knicks President Donnie Walsh said.

Calling Billups part of the nucleus of the team along with Amare Stoudemire and Anthony, Walsh said, "Chauncey is an extremely talented and experienced point guard -- we are very happy to have him back."

Billups averaged 16.8 points and 5.4 assists in 72 games with Denver and New York this past season.

He missed most New York's first-round playoff sweep at the hands of Boston after injuring his left knee in Game 1.