Don deal: After how many years of waiting, the New York Knick have finally completed the deal.

Don deal: After how many years of waiting, the New York Knick have finally completed the deal.

Chris Herring of the Wall Street Journal details a sizable advance that Carmelo Anthony of the Kincks has taken out of his July contract:

According to people familiar with the situation, Carmelo Anthony, the star player for the New York Knicks, will get more than $62 million in advance from the five-year contract he signed last month.

The most Anthony can accept this soon under league rules is the advance of $62,032,340, or 50% of his deal worth more than $124 million.It is also undoubtedly one of the biggest advance payouts a player has ever accepted in NBA history, based solely on monetary amounts. The only players who have ever inked contracts worth more money are Rashard Lewis, Kevin Garnett, Jermaine O’Neal, and Kobe Bryant.

Later on, Herring clarified what he reported:

Updates as of July 15, Tuesday

Ian Begley of ESPN verified the figures on Anthony’s contract:

Begley and Frank Isola of the New York Daily News provide further details regarding Anthony’s contract:

Original Wording

Carmelo Anthony’s flirtation with the rest of the league as a free agent proved to be short-lived.

Despite the fact that a number of teams naturally pursued the seven-time NBA All-Star with their best pitches and recruits, he decided to stay home and will now sign a $120 million five-year contract with the New York Knicks, per Adrian Wojnarowski of Yahoo! Sports:

According to league sources who spoke with Yahoo Sports, Carmelo Anthony will re-sign with the New York Knicks for a five-year deal worth at least $120 million.

According to a source, Anthony may still accept less than the $129 million that the Knicks are willing to offer him.

On Sunday, Anthony verified the information and declared his comeback in a statement posted on ThisIsMelo.com:

My dream of returning to my birthplace of New York City was realized on February 23, 2011, after having dreamed of it for a few years. I want to stay and continue building here with this city and my team because this organization has helped me. I owed it to my family and myself to consider every option at this critical juncture in my career. During everything, my heart remained steady.

I had the opportunity to meet some excellent organizations along the way with incredible talent and leadership. I am grateful for their thoughtfulness, faith in my abilities, and chance to dream big.

This period of my life is one that I will never forget. I am ultimately a die-hard New York Knicks fan. It is with great anticipation that I will carry on with my career at Orange & Blue and collaborate with the legendary Phil Jackson, who creates championship teams. I’m surrounded by the world’s greatest basketball fans at Madison Square Garden, the basketball mecca.

The Knicks also provided Phil Jackson’s remarks regarding Anthony’s return to New York on Twitter, confirming the deal:

Jackson afterwards discussed Anthony’s New York contract:

Additional information about Anthony’s choice is provided by Frank Isola of the New York Daily News:

While July 1st marked Anthony’s official free agent status, teams had long since begun to prepare for his possible availability. And things took off after he chose, on June 23, to forego the last year of his contract with the Knicks.

Agent Leon Rose stated, “Carmelo loves being a Knick, he loves the city, and he loves the fans,” according to Ian Begley of ESPNNewYork.com at the time. “At this stage of his career, he just wants to explore his options.”

He did, after all, have options.

The Houston Rockets traded Omer Asik to create cap space. Tyson Chandler, a friend of Anthony’s and a former teammate, was acquired by the Dallas Mavericks. The Miami Heat, Chicago Bulls, Los Angeles Lakers, and a few more teams entered the fray, each with special benefits of their own.

April 2, 2014: Carmelo Anthony #7 of the New York Knicks during a Madison Square Garden game against the Brooklyn Nets in New York City. Remember me, user: The user clearly understands and consents that, by downloading and/or using