Landry Shamet expected to sign $24m contract with New York Knicks

NBA champions the New York Knicks are set to retain guard Landry Shamet after he agreed to sign a new four-year contract worth $24 million, according to ESPN.

ESPN reported that Shamet, who was due to become an unrestricted free agent, attracted interest from multiple teams ahead of the opening of free agency on 1 July.

However, the 29-year-old has chosen to remain in New York on a long-term deal.

According to ESPN, Shamet's agent, George S. Langberg of GSL Sports Group, finalised the agreement with Knicks executives on Monday.

The new contract allows New York to remain below the NBA's second salary cap while continuing to build its championship-winning squad.

The deal also leaves the Knicks with 11 players under contract.

Shamet has spent the past two seasons with the franchise, making 101 regular season appearances, including 12 starts. During that period, he averaged 7.1 points in 19.1 minutes per game.

He also played an important supporting role during the Knicks' successful NBA title run, averaging 6.0 points while shooting an impressive 47.5 per cent from three-point range in limited minutes.

Before joining New York, Shamet played for the Philadelphia 76ers, Los Angeles Clippers, Brooklyn Nets, Phoenix Suns and Washington Wizards, building a reputation as a reliable perimeter shooter and experienced backcourt option.