The New York Knicks have agreedto partner with the NBA Development League's Erie BayHawks and will buy the team's basketball operations according to a source with knowledge of the agreement. An official announcement is expected soon.
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FILE - This July 9, 2008, file photo shows New York Knicks president Donnie Walsh speaking to reporters during a news conference at Madison Square Garden in New York. The Knicks say in a statement Friday, June 3, 2011, that Walsh and Madison Square Garden chairman James Dolan have mutally agreed that Walsh will not return when his contract expires at the end of June. (AP Photo/Mary Altaffer, File)