Thursday October 16th, 2014

The New York Knicks plan to pick up the third-year contract option for guard Shane Larkin, reports Yahoo! Sports’ Adrian Wojnarowski.

Larkin is scheduled to make $1.67 million during the 2015-16 season. He is set to make $1,606,080 this season. 

The team had until the end of the month to decide to pick up the option. 

After earning All-ACC honors and being named co-conference Player of the Year, Larkin, 22, was drafted 18th overall by the Atlanta Hawks in the 2013 NBA Draft and then traded to the Dallas Mavericks

In 48 appearance during his rookie season, he averaged 2.8 points and 1.5 assists while playing 10 minutes a game. 

2014-15 NBA Preview Hub

In June, Larkin was traded along with three other players and two draft picks to New York for center Tyson Chandler and guard Raymond Felton

He is averaging 2.5 points a game in four exhibition games this season. 

The Knicks begin the regular season at home on Oct. 29 against the Chicago Bulls.

- Scooby Axson  

SI Apps
We've Got Apps Too
Get expert analysis, unrivaled access, and the award-winning storytelling only SI can provide - from Peter King, Tom Verducci, Lee Jenkins, Seth Davis, and more - delivered straight to you, along with up-to-the-minute news and live scores.