The Knicks and President Donnie Walsh are close to announcing a two-year contract extension, a source close to Walsh said.
“It will be a two-year deal,” the source said.
Today is the deadline for Knicks owner Jim Dolan to exercise the last $5 million year on Walsh’s initial contract, but the two sides can mutually agree to another deal going forward.
“There are other answers to what you guys have made a big deal out of, but I’m not going to go into it right now,” Walsh, 70, said recently of potentially agreeing to a deal by June 30, when the current deal expires. “It’s my own personal, private business.”
Walsh seeks more control within the organization and was reportedly upset last summer when Dolan brought Isiah Thomas in as a consultant, an agreement that was ultimately voided by the NBA because of a conflict of interest.
Dolan also reportedly pushed the Carmelo Anthony trade, which required the Knicks to give up numerous key assets, including a 2014 draft pick and Wilson Chandler, Danilo Gallinari, Raymond Felton and Timofey Mozgov.
Walsh was hesitant to make the deal at such a high cost.
