Although financial terms were not disclosed, it was reported the Knicks will pay World Peace $3.2 million. The second year of the contract includes a player option.
World Peace, previously known as Ron Artest, was recently released by the Los Angeles Lakers. He averaged 12.4 points in 75 games with the Lakers last season, which was his 14th in the NBA.
He has played in 902 games with 832 starts during a career that began when the Chicago Bulls made him the 16th overall pick in the 1999 draft. He was named the league's defensive player of the year during the 2003-04 season.