The New York Knicks and Arron Afflalo agreed to a two-year deal worth $16 million on Thursday, a source told ESPN.com's Ramona Shelburne.
The agreement includes a player option for the second year of the deal, sources said, which could allow Afflalo to again test free agency after next season.
Afflalo averaged 13.3 points for Denver and Portland last season, and he has made 38.5 percent of his 3-point attempts over his career.