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The Knicks declined Rose's $15.6 million team option Saturday and he will be an unrestricted free agent, Fred Katz of The Athletic reports.

While this doesn't exclude Rose from returning to New York on a cheaper deal, it was always unlikely the Knicks would pick up his team option. The veteran point guard played just 27 games in 2022-23 and averaged 5.6 points, 1.7 assists and 1.5 rebounds in 12.5 minutes. Rose hasn't played more than 51 games since 2016-17 and is in the twilight of his career, so he will likely settle for closer to a veteran minimum if he is signed this offseason.

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