Stoudemire Signs Contract With Knicks

Amar'e Stoudemire signed a contract with the New York Knicks and subsequently announced that he'll retire from the NBA, the club said in a statement Tuesday.

"I want to thank Mr. Dolan, Phil [Jackson] and Steve [Mills] for signing me so that I can officially retire as a New York Knick," Stoudemire said.

"I came to New York in 2010 to help revitalize this franchise and we did just that. Carmelo [Anthony], Phil and Steve have continued this quest, and with this year's acquisitions, the team looks playoff-bound once again. Although my career has taken me to other places around the country, my heart had always remained in the Big Apple. Once a Knick, Always a Knick."

Stoudemire, 33, averaged 18.9 points and 7.8 rebounds in 846 career games over 14 seasons for Phoenix, New York, Dallas and Miami. The 6-foot-10 forward/center was named an All-Star six times and selected to two All-NBA first teams, forming one half of a formidable pick-and-roll duo in Phoenix with point guard Steve Nash. Stoudemire was also named 2003 NBA Rookie of the Year after entering the league directly from high school.

Cavaliers, Coach Lue Reach Agreement

The Cleveland Cavaliers and coach Tyronn Lue have reached an agreement on a five-year contract extension.

The team announced the contract Tuesday, referring to the deal as a multiyear agreement. But sources told ESPN that it is a five-year extension with the first four years fully guaranteed. The fifth year is a team option. According to The Vertical, the deal is worth $35 million.

Lue did not sign a new contract when he was promoted from associate head coach to take over for David Blatt in January, sources previously told ESPN.

Lue led Cleveland to a 27-14 mark in the second half of the season and through the playoffs to the NBA championship.