Point guard Brandon Jennings has cleared waivers and is now free to sign with any team, according to ESPN's Marc Stein.
The Knicks cut Jennings and used the open roster spot to sign free agent guard Chasson Randle, the team announced Monday.
Randle's deal includes a team option for next season, reports Stefan Bondy of the NY Daily News.
Jennings, who signed a one-year, $5 million contract with the Knicks last offseason, was averaging 8.6 points and 4.9 rebounds in 24.6 minutes per game, appearing in 58 games with New York.
The veteran point guard had recently told the team's management that he wanted to play for a playoff team this season, per Marc J. Spears of The Undefeated.
Thank you to all the Knicks fans for the love all year long, and thanks to my teammates and the organization.- Brandon Jennings (@brandonjennings) February 27, 2017
Randle, who went undrafted in 2015, looked as if he would receive a spot on the Knicks in October, but was waived after suffering an orbital bone fracture.
He is expected to be available for Monday's game against the Raptors, according to Ian Begley of ESPN.
The Stanford-grad joined New York's D-League team and played well enough in Westchester to earn himself an audition with the 76ers. Philadelphia would go on to sign Randle to two 10-day contracts before inking the guard to a rest-of-the-season deal. However a roster spot was needed after Philadelphia completed its trade that sent Nerlens Noel to Dallas last week, and Randle was cut.
From day one, Jennings had exhibited great chemistry with Kristaps Porzingis and really looked as though he would play a big role in the young gun's development. The Knicks looked to have found an early rhythm, with a rotation that featured a potent lineup with Jennings running the floor alongside Porzingis and his fellow reserves.
That offensive rhythm was seemingly disrupted when New York conversely failed to thrive on defense. The struggles on that end of the floor (along with an array of injuries) led to shifts in the rotation the rest of the way. Jennings hasn't quite been comfortable playing with other combinations. His ability to run the floor has wavered. What's more, that certain level of swagger he has played with the rest of his career, an edge when it comes to scoring at will, has not been on display. The writing appeared to be on the wall with Jennings looking lost through an underwhelming 12 minutes on Saturday against the 76ers.
The reported swap of Jennings and Randle is evidence of the direction the Knicks see their season going. Randle is an intriguing youngster that the organization had been invested in dating back to Orlando Summer League. He found success in Westchester and if Philadelphia was intrigued enough by him, he's even more likely a young asset worth developing. Randle has a similar explosiveness to his game as Derrick Rose and Jennings. He fits in the offense and is intelligent and mature for a young player. After playing collegially at Stanford, he's familiar with elements of the triangle.
Perhaps New York has seen enough of Randle to know what he's made of. They appreciate his game. It's also a possibility that Randle had other offers after being released by Philadelphia. Either way, it's a tad bit surprising to see the Knicks offer him a partial guarantee towards next season, as opposed to a ten-day deal. At least now the team knows they won't lose out on him again.