New York Knicks guard Allonzo Trier — a rookie revelation on a two-way contract — has agreed to a two-year, $7 million contract with a team option for the second year, sources told ESPN on Wednesday.
The Knicks were rapidly closing on 45 days of allowable NBA service under Trier’s two-way deal, clearing the way for general manager Scott Perry to negotiate use of the team’s full bi-annual exception over the next seasons.
Trier will earn nearly $3.4 million this season and $3.5 million in 2019-20 under the bi-annual exception.
Trier, 22, is signing the biggest contract to emerge out of the brief history of the two-way contract format — and possibly the biggest contract ever for an undrafted rookie fresh out of college.
Trier has averaged 11.3 points, including 39 percent shooting on three-pointers in 23 minutes a game for the Knicks. He scored 25 points in a victory over New Orleans on Nov. 23.
His explosiveness and versatility captured the Knicks’ attention in the pre-draft process, where they worked out an agreement once Trier went undrafted.
Trier, a two-time All-Pac 10 performer, played three seasons at the University of Arizona. During his junior year, he tested positive for a banned substance prior to the NCAA tournament.
To make room for Trier, the Knicks will cut Ron Baker. Baker signed a two-year, $9 million deal with the Knicks in the summer of 2017.