The New York Knicks picked up the 2018-19 team option on forward Kristaps Porzingis, according to Real GM's Keith Smith.
Porzingis, 22, scored 18.1 points and averaged 7.2 rebounds in 66 games in his second year in the league last season. As a rookie, the former No. 4 pick averaged 14.3 points and 7.3 rebounds.
The Knicks had until Oct. 31 to pick up team options for the 2018-19 season, according to Smith.
Porzingis will earn $4.5 million this season and $5.7 million next season. Porzingis will also earn an additional $1.7 million (30 percent) based on the NBA's new collective bargaining agreement, according to ESPN's Bobby Marks.
The Knicks can offer him a $7.5 million qualifying offer for the 2019-20 season, according to Spotrac. His cap hold would be $17.1 million -- 300 percent of his salary for the 2018-19 season -- for the summer of 2019 given his salary would be below the league's average salary, according to Marks.