New York Knicks officially re-sign J.R. Smith

The New York Knicks announced the signing of free agent guard J.R. Smith on Wednesday. Smith agreed to a 2-year contract with a player option on the second season. The deal will pay him $2.8 million per year.

Smith, 26, averaged 12.5 points, 3.9 rebounds and 2.4 assists off the bench for the Knicks last season.

The Rockets also officially announced the sign-and-trade of veteran center Marcus Camby to the Knicks on Wednesday.