Knicks' Smith declines second-year contract option

Posted Jun 26 2012 9:11PM

NEW YORK (AP) -- The New York Knicks say J.R. Smith has declined his second-year contract option and will become a free agent.

The Knicks could still re-sign the reserve swingman, who averaged 12.5 points last season, when he becomes a free agent Sunday. He was scheduled to make about $2.5 million next season but could earn slightly more by signing a new deal with the Knicks.
Smith joined the Knicks in February after playing in China during the lockout. He informed the Knicks of his decision on Tuesday.