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Carmelo Anthony agrees to return to New York Knicks

Nine months of nearly daily speculation about Carmelo Anthony's future came to an end Saturday when he agreed to re-sign with the Knicks.

Anthony, one of the NBA's elite scorers, made his decision one day after LeBron James returned to the Cavaliers. The two were the top free agents, with the ability to alter the landscape of the league depending on where each wanted to play.

It was not immediately clear if Anthony had signed, or what the terms of a new deal were. Late last month, he opted out of the final two years of a contract that would have paid him more than $23 million next season.

He is eligible for a contract that would pay him nearly $130 million over five years, more than any other team could offer, according to league rules. Any long-term deal approaching that amount would come fraught with risk, though. Anthony, 30, is banking on the notion that Phil Jackson, the team president, can help turn the Knicks, one of the league's perennial underperformers, into a contender with the clock ticking on Anthony's career.

Bulls get pau gasol: Pau Gasol left the Lakers after playing on two championship teams and helping resuscitate the franchise in a February 2008 transaction. Gasol, 34, will join the Bulls, who are finalizing a deal with the 7-foot Spaniard. It was unclear if he was signing for a mid-level exception or if it is part of a sign-and-trade deal with the Lakers. Gasol announced he's leaving for Chicago via Twitter: "It hasn't been easy. After meditating it a lot I've chosen to play with the Chicago Bulls. Looking forward to this new chapter of my career."

lebron's deal: LeBron James signed a two-year, $42.1 million contract with the Cavaliers that provides flexibility for the NBA's biggest star with the league's maximum salary expected to rise in the future. James' contract includes an option for the four-time league MVP to become a free agent next summer. However, it is strictly a business deal, according to the person who spoke to the Associated Press on condition of anonymity because the team has not commented about the agreement. By only signing for two years, James can get another contract with the Cavs before the 2016-17 season when a new TV deal is expected to push the maximum contract higher. The max contract for next season is $20.7 million. Until this deal, James had never been the highest paid player on his team in 11 seasons as a pro.

Carmelo Anthony agrees to return to New York Knicks 07/12/14 [Last modified: Saturday, July 12, 2014 9:37pm]

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