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Novak, Knicks agree to $15 million, multiyear deal

Posted Jul 9 2012 5:12PM - Updated Jul 9 2012 5:31PM

NEW YORK (AP) -- Steve Novak is returning to the New York Knicks with a four-year deal worth $15 million.

Novak's agent, Mark Bartelstein, says the deal is a reward for a player who finally got his opportunity and took advantage of it. The Knicks claimed him after he was waived by San Antonio and Novak went on to lead the NBA in 3-point shooting at 47.2 percent.

Novak may not have been able to return without a challenge by the union to claim his "Bird Rights," allowing the Knicks to exceed the salary cap to keep him. Previously, players only kept their Bird Rights if traded, but the players' association successfully argued that players claimed off waivers should, too.

The deal can't be signed until Wednesday after next year's salary cap is set.

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