Free-agent forward Steve Novak has agreed to a four-year, $15 million deal to return to the Knicks, according to his agent, Mark Bartelstein.
Novak led the NBA in three-point accuracy at 47.2 percent last season, when the six-year veteran averaged career highs of 8.8 points and 18.9 minutes. He made 85 three-pointers after the All-Star break, second most in the NBA behind Clippers guard Randy Foye's 87. For the season, 133 of Novak's 161 field goals were three-pointers.
The Knicks signed the 29-year-old Novak last December after San Antonio waived him. Novak has also played for the Rockets, Clippers and Mavericks since Houston selected him No. 32 in the 2006 draft.
New York was able to exceed the salary cap to re-sign the sharpshooter after a settlement between the NBA and the players' union last month gave players claimed off waivers like Novak their Early Bird rights. The decision also applied to Knicks restricted free agent Jeremy Lin, who plans to sign a four-year, $28.8 offer sheet from the Rockets. New York is expected to match the offer and keep the 23-year-old point guard.