Carmelo Anthony F NY 3 Months

Carmelo Anthony has officially decided to return with the Knicks on a five-year deal.

Following LeBron James' lead, Carmelo made his announcement with an open letter to the Knicks fan base: "At this pivotal juncture in my career, I owed it to myself and my family to explore all of the options available to me. Through it all, my heart never wavered. During this journey I met with some quality organizations who have amazing talent and leadership. I thank them for their consideration, belief in my talent, and opportunity to imagine the possibilities. I will always remember this chapter in my life. In the end, I am a New York Knick at heart. I am looking forward to continue my career in Orange & Blue and to work with Phil Jackson, a champion who builds championship teams. Madison Square Garden is the mecca of basketball and I am surrounded by the greatest fans in the world."

Carmelo Anthony F NY 4 Months

Carmelo Anthony will soon accept a five-year, $129 million contract from the Knicks, according to Adrian Wojnarowski.

Frank Isola reported that Melo would stay in New York earlier in the week, and once Pau Gasol signed with Chicago it was a near certainty. Melo and the Knicks may struggle during the 2014-15 season but they're poised to be major players in free agency next summer. From a fantasy perspective, Anthony is in a perfect situation as the lead gunner on a team in need of reliable scoring, and he should benefit from the Knicks' acquisition of Jose Calderon for Raymond Felton.

Carmelo Anthony F NY 4 Months

With the Bulls nearing a deal with Pau Gasol, free agent Carmelo Anthony will likely return to the Knicks according to multiple reporters.

It all makes sense and we'll update this as soon as all of the various shoes have dropped. Anthony is in some prime real estate to put up big numbers on a barren Knicks roster.

Carmelo Anthony F NY 4 Months

The Lakers are reportedly no longer an option for Carmelo Anthony, and he is now deciding between Chicago and New York.

So it seems the decision will come down to winning-now, vs. playing for his home team. The Knicks can offer Melo the most money, and reports seems to have Anthony leaning in that direction, but nothing is official until Anthony makes a statement. Stay tuned.

Carmelo Anthony F NY 4 Months

Carmelo Anthony is not expected to announce which team he'll sign with on Friday.

LeBron James returning to Cleveland will dominate the headlines and Melo may not want to become an afterthought, though it's conceivable that he's still making up his mind. Knicks president Phil Jackson has expected a decision from Melo for the past few days and with luck we'll hear from him before the end of the weekend.

Carmelo Anthony F NY 4 Months

Phil Jackson is confident that Carmelo Anthony will accept one of the five different contract offers presented to him by the Knicks.

"We have maybe five different options," Jackson said. "There's a lot of different options." One of the offers is the 5-year, $129 million max, but Jackson believes that Melo will accept a more cap-friendly deal. Although Jackson remains confident, he did admit that he expected a decision from Anthony days ago. "I expected [an answer] yesterday and the day before yesterday. But, no, we're waiting."

Carmelo Anthony F NY 4 Months

Carmelo Anthony will re-sign with the Knicks "barring a last minute change of heart," according to the NY Daily News.

The report adds Anthony had been "agonizing over this" for the past week. "He will have something for everybody on Thursday," an anonymous friend of Anthony said. "He is really torn because this is the biggest decision of his career. But he wants to get it done in New York. He told me he believes in Phil." The Knicks are likely going to have a tough time winning a title this season because of the contracts of Amare Stoudemire and Andrea Bargnani, but things will get better next year. Hopefully this news becomes official and more free agents can agree on deals. Additionally, Yahoo! reported just minutes following this news that Anthony circle believes it's always possible to ask for a trade later.

Carmelo Anthony F NY 4 Months

There is a growing sentiment around the NBA that Carmelo Anthony is hoping that Chris Bosh will sign with the Rockets so that he can join LeBon James in Miami, according to Marc Stein of ESPN.

Stein reported that five teams he talked to expressed the same thought as Carmelo's free agency decision drags on. This situation has turned into a bit of a high-stakes game of chicken to see which free agent will blink first and sign with Houston as the Rockets have reportedly offered max contracts to both Bosh and Anthony. The Bulls, Lakers, and Knicks are also in the running for Anthony's services while LeBron could thrown a huge wrench into the entire situation by signing with his hometown Cavaliers. This situation is getting cloudier by the day, but we should have some clarity soon after one of the proverbial dominoes fall.

Carmelo Anthony F NY 4 Months

Carmelo Anthony is reportedly torn between the offers from the Knicks, Lakers, and Bulls.

The Bulls would be the best team for Carmelo to join if he's a seeking a win-now situation, however he'd need to take a significant pay cut. The Lakers can offer Carmelo a max deal of four-years, and $96 million, while putting him in the spotlight of a major market, but they're far away from being a championship contender. While the Knicks can offer Carmelo the most amount of money, and when Amare Stoudemire and Andrea Bargnani come off the books next season New York will have plenty of money to bring in a big-name free agent.

Carmelo Anthony F NY 4 Months

The Knicks "remain confident" in their chances of re-signing unrestricted free agent Carmelo Anthony.

The Lakers have moved into "serious contention" and Melo reportedly was at a pickup game at UCLA with Kobe Bryant, but that report is unconfirmed. Anthony has not informed teams who is ruled out of the running, so the Rockets, Lakers, Bulls, Mavericks and Knicks still have a chance. He is expected to make a decision in the next few days.