Report: J.R. Smith Close To Deal With Knicks

(CBS) –– According to the New York Daily News, the Knicks are close to signing free agent shooting guard J.R. Smith.

The former Denver Nugget is expected to receive the team’s $2.5 million cap exception.

Smith recently returned from China, where he had to finish his contract before returning to the NBA.

The Lakers could have only offered him about $450,000, the prorated portion of the veterans’ minimum.

Smith made $6.8 million last season with Denver.

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