May 7, 2013; New York, NY, USA; New York Knicks point guard Pablo Prigioni (9) dribbles against Indiana Pacers point guard Ben Hansbrough (23) during the second half in game two of the second round of the 2013 NBA Playoffs at Madison Square Garden. Knicks won the game 105-79. Mandatory Credit: Joe Camporeale-USA TODAY Sports

New York Knicks Rumors: Knicks reportedly sign Pablo Prigioni to 3-year deal

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The New York Knicks have been busy on this Independence Day.

First they came to terms with Sixth Man of the Year J.R. Smith and now it appears that Knicks’ general manager Glen Grunwald has locked up another part of his bench.

May 7, 2013; New York, NY, USA; New York Knicks point guard Pablo Prigioni (9) dribbles against the Indiana Pacers during the second half in game two of the second round of the 2013 NBA Playoffs at Madison Square Garden. Knicks won the game 105-79. Mandatory Credit: Joe Camporeale-USA TODAY Sports

According to Shams Charania of RealGM.com the Knicks and point guard Pablo Prigioni have agreed to a three-year deal worth $6 million.

Prigioni’s starting salary will be around $1.5 million with the possibility of an increase to $2 milllion based on incentives. In addition, the third year of the contract will be a team option and partially guaranteed.

With Raymond Felton the only point guard on the roster at the moment, the Knicks almost had to sign Prigioni, especially given that the offense was much better off when Prigioni was in the lineup, opposed to Felton.

After spending most of his playing career overseas, the Argentian guard joined the Knicks last season as a 35-year-old rookie, averaging 3.5 points and 3.0 assists in 78 contests. However despite how much more efficient the offense was with Prigioni on the floor, he averaged only 16.2  minutes per game as Knicks head coach Mike Woodson inexplicably buried him on the bench at times.

If Prigioni’s starting salary of $1.5 million is accurate, that means the Knicks will have only $1.5 million left to spend of their MLE, which means a major upgrade is now unlikely, as is any chance of re-signing forward Chris Copeland.

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Tags: NBA Free Agency New York Knicks New York Knicks Rumors Pablo Prigioni

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