Knicks to exercise third-year option on Shane Larkin

After some initial uncertainty, the New York Knicks plan to pick up the third-year contract option for guard Shane Larkin, league sources told Yahoo Sports.

The Knicks have been satisfied with Larkin, 22, in the preseason, and will guarantee the $1.67 million on his contract for the 2015-16 season.

The deadline for guaranteeing the third-year option comes at the end of October.