Re: JR Smith is out 3-4 months for surgery.
Last week, Smith re-signed with the Knicks for four years, $24.7 million. Because the Knicks had his Early Bird rights, they were allowed to pay him the roughly $5.3 million for 2013-14, despite the fact that they were over the salary cap. That $5.3 million couldn't be spent on any other free agent. Therefore, it was a no-brainer the Knicks made him a priority signing, even with his injuries in mind.
-- ESPN NY