Knicks bringing back Billups next season

The Knicks have ensured that Mr. Big Shot also will be Mr. Big Bucks next season. The team Wednesday announced that it will keep veteran point guard Chauncey Billups for the 2011-12 season, which locks in his $14.2- million salary.

Billups' contract has a buyout clause for the final year, which guaranteed only $3.7 million if he was waived within five days of the team's final game of the season. The Knicks could have saved $10.5 million in salary with the move, but they'd also be out of a starting point guard.

The team had until Friday to make a decision on Billups. Team president Donnie Walsh announced the decision to keep the highly respected Billups, who, along with Amar'e Stoudemire and Carmelo Anthony, form "a great nucleus, as we continue to look to improve our team going into the offseason."

With the decision on Billups finalized, what remains next is an announcement on Walsh's future as team president. He and Garden executive chairman James Dolan still have to come to terms on either the team option for next season or a multiyear extension. All indications are, however, that the intention is to keep everything in place, from the front office to the core of the roster.

In 21 games with the Knicks since he came to New York with Anthony in the blockbuster trade with the Denver Nuggets, Billups averaged 17.5 points and 5.5 assists per game. Billups suffered a strained tendon in his left knee at the end of Game 1 of the first-round series against the Boston Celtics and missed the rest of the playoffs.

"Chauncey is an extremely talented and experienced point guard," Walsh added. "We are very happy to have him back."

The move not only ensures the team's core will remain intact going into next season, but it also gives the Knicks options as they look toward 2012. Billups could be a valuable asset as an expiring contract at the next trade deadline, when All-Star point guards such as Chris Paul and Deron Williams, who both can opt for free agency in 2012, could be on the block.

If neither are an option -- the Knicks will have some salary-cap space in 2012, but not many assets to make a trade -- Billups can be brought back on a long-term deal for a lower number, which would free up cap space to improve the roster in other areas. As it is, the team is believed to be targeting a center this offseason.

Billups, a former NBA Finals MVP, will be 35 years old when next season begins and despite his age, he believes he has a lot more left in the tank. "I'm in great condition," he said on Monday. "My body is great."

But his body did break down in the playoffs, which was a major reason why the Knicks were swept by the Celtics in the first round.

Billups said the injury is expected to heal in two or three weeks and will not require surgery. "It's nothing major," he said. His plan for next season, with Mike D'Antoni's up-tempo system in mind, is to come to training camp at least five pounds lighter to help himself be quicker.

"For the last 10 years, every time they throw the ball up, I'm playing against someone who is faster than me," he said. "But that's just kind of how it's been. I always feel ways to dominate and come out on top. That's kind of the position I'm still in. My body is still great. I'm 34, not 39. My first five years I didn't play that much anyway."

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