Baron Davis has committed to sign with the New York Knicks, according to sources close to the situation.
The deal could be formally completed as soon as Sunday, sources said.
Davis cleared waivers Friday after he was released through the amnesty clause in the new labor agreement by the
Cleveland Cavaliers.
SI.com reported that Davis and the Knicks have agreed to a one-year deal worth $2.5 million, which is the maximum New York could pay in using what is known as the "mini" mid-level exception for luxury-tax teams.
But it remains to be seen how soon Davis will be able to play for the Knicks thanks to a back injury that the Cavaliers, upon releasing him, believed would sideline the former All-Star for eight to 10 weeks.