Carmelo Anthony re-signs with New York Knicks

News was breaking earlier today that it was going to be a 'matter of hours', and apparently that time is now.

Carmelo Anthony has re-signed with the New York Knicks.

Adrian Wojnarowski of Yahoo reports it'll be a 5-year deal, somewhere over $120m. New York Post's Frank Isola is reporting it may not be the 'full' max Anthony is eligible to receive, but somewhere close.

The Bulls could only offer a 4-year deal, and we've yet to know if they had the capabilities of getting to a maximum figure for even that duration. They have been contacted by Anthony, telling them he's staying in New York.