Derrick Rose returns to Knicks on 3-year deal (Report)

After reuniting with Tom Thibodeau at the trade deadline, Derrick Rose will be back with the New York Knicks on a three-year deal.

On a busy first day of free agency, the New York Knicks have reportedly decided to bring back guard Derrick Rose on a three-year, $43 million deal.

Free agent G Derrick Rose has agreed to a three-year, $43M deal to return to the New York Knicks, source tells ESPN.

— Adrian Wojnarowski (@wojespn) August 3, 2021

The Knicks were always considered to be the favorites to sign Rose, especially after he helped guide them to a playoff spot. Head coach Tom Thibodeau has always been very fond of Rose and clearly believes that the former MVP still has much to offer.

Thibodeau and Rose have some of their best years in the NBA together. There was some reported interest between Rose and the Chicago Bulls, but that wasn’t enough to pry him away from Thibs.

In 35 games with the Knicks last season, Rose shot .487 from the field, .411 from three, .883 from the line, and averaged 14.9 points, 2.9 rebounds, and 4.2 assists per game.

The soon-to-be 33-year-old has proven that he can still be impactful and his veteran presence on such a young team as the Knicks has been invaluable.

By signing Rose, Evan Fournier, Nerlens Noel, and Alec Burks to multi-year deals, the Knicks are effectively eating up valuable cap space over the next few years. On the flip side, these deals are flexible enough to move in a blockbuster trade for a superstar.

Knicks president Leon Rose didn’t waste much time. Clearly, the Knicks are very comfortable using the $52.6 million in salary-cap space they came into free agency with.

Check out the latest signings with ESNY’s Knicks free agency tracker.