The Knicks have decided not to sign Allen Iverson.

The team had been considering whether to add Iverson to the roster after starting the season 2-9.  As of Thursday evening, a deal appeared imminent.  One source put the percentage likelihood of the Knicks signing Iverson in the high 90's.

Knick owner James Dolan was reportedly hesitant about signing Iverson for the remainder of the season but said he would not stand in the way if Donnie Walsh and Mike D'Antoni were in favor of the move.

The Knicks pulled back late Thursday, deciding that the risks of adding Iverson outweighed the potential rewards.