Sam Amnick of SI.com added that the deal is for 1 year at the $2.5 million max exception the Knicks were able to offer.
In the video on ESPN Stein also adds into the conversation that Davis won't actually be out the 8-10 weeks that was reported and could resume activities within a month.
Sure Davis is not the same player he was a few years ago, but he is still an above-average point guard and is an immediate upgrade over Toney Douglas and Iman Shumpert.
This move does a couple of things for the Knicks. For starters it obviously gives them a replacement for Chauncey Billups and gives them some options with the rotation. (1) It gives them the option with Douglas on the bench to spell Landry Fields of some time so he can also rotate to the 3 and give Carmelo a breather, or (2) If they wanted to get real creative with four PGs now on the roster they can use Shumpert/Douglas as the starting shooting guard and leave Landry as a full-time bench player who can swing between the 2/3 since Renaldo Balkman is the only other SF on the team right now.
I am really liking the way the rotation is shaping up. Glen Grunwald is doing a great job.
He essentially traded Chauncey and Ronny Turiaf for Davis and Tyson Chandler. Talk about a steal.