The New York Knicks are close to making a deal for free agent shooting gaurd J.R. Smith, according to the New York Daily News.
It is believed that Smith will likely receive the Knicks' $2.5 million exception after his agent met with Knicks chairman James Dolan to finalize a contract. The Los Angeles Clippers were also believed to be in negotiations with Smith.
Smith signed with a Chinese pro team during the NBA lockout and was obligated to honor the contract until this month. He is now able to sign with the Knicks for the remainder of the season.