New York Knickerbockers President of Basketball Operations Donnie Walsh announced today that the team has exercised its fourth-year option on forward Wilson Chandler and its third-year option on forward Danilo Gallinari.

Chandler, 6-8, 225-pounds, has averaged 12.3 points and 4.9 rebounds in 117 games over his first two NBA seasons. The Benton Harbor, MI-native enjoyed a breakout sophomore campaign last season, averaging 14.4 points and 5.4 rebounds while playing in all 82 games and was also selected to play in the T-Mobile Rookie Challenge at 2009 NBA All-Star Weekend in Phoenix.

Gallinari, 6-10, 225-pounds, averaged 6.1 points and 2.0 rebounds in 28 games as a rookie in 2008-09. The Milan, Italy-native was selected by New York with the sixth overall pick in the 2008 NBA Draft.