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Billups Will Have 11-12 Contract Picked Up By Knicks

Chauncey Billups, who had a non-guaranteed contract for the 11-12 season, but that deal will not be bought out.

Billups is locked into his $14.2 million contract for the 11-12 season, according to a source.

Because Billups' contract will expire for the 2012 offseason, the Knicks retain the flexibility to acquire a potential free agent such as Chris Paul or Deron Williams.

Via Marc J. Spears/Yahoo! Sports (via Twitter)
 

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