Chauncey Billups has already received a verbal guarantee from the Knicks that the club will pick up his option next season, according to a team official.

There was never much doubt that the Knicks would exercise the final year of the veteran point guard's contract that will pay him $14.2 million. The bigger question has always been: Will the Knicks sign Billups to an extension?

Mike D'Antoni and team president Donnie Walsh are in favor of holding onto Billups beyond next season. Of course, there are no guarantees that D'Antoni and Walsh will be around beyond next season but most coaches would advocate keeping a point guard whose value extends beyond the court.