The New York Knicks are negotiating a buyout of the final year of Jalen Rose?s contract, which calls for him to earn $16.9 million, the New York Times has confirmed. The precise terms of the buyout are not known.

?We?re close to reaching an agreement, and my expectation is it could be done as early as tomorrow,? Arn Tellem, Rose?s agent, said last night.

Rose, 33, became expendable after the Knicks signed small forward Jared Jeffries over the summer. They also drafted small forward Renaldo Balkman with the 20th pick.