Knicks

Reports: Melo Has No-Trade, Opt-Out Clauses In Contract

Carmelo Anthony at Sunset Tower on July 15, 2014 in West Hollywood, California. (Photo by Jason Merritt/Getty Images for Grey Goose)

Carmelo Anthony at Sunset Tower on July 15, 2014 in West Hollywood, California. (Photo by Jason Merritt/Getty Images for Grey Goose)

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NEW YORK (CBSNewYork) — The details of Carmelo Anthony’s new contract with the Knicks are no longer a mystery.

And it looks like he made out pretty well for himself.

Anthony’s five-year, $124 million deal includes a no-trade clause, according to the New York Daily News. He helped the Knicks, too, by leaving a small amount of money on the table — $5 million, the paper reported — that would give the team some flexibility under the cap in future free-agency periods.

He can opt out after the fourth year, ESPN reported.

Knicks president Phil Jackson put the heat on his star forward this spring, challenging the 30-year-old to stay true to his word and take a pay cut for the good of the team. Jackson ended up offering a max deal of $129 over five years, and Anthony accepted slightly less.

“We’re glad Carmelo is seeing that we have the vision,” Jackson said after Anthony announced his return. “He implied and impressed upon us his desire to win and to be on a competitive team. And our message to him is we are going to be a competitive team.”

Jackson had to sell Anthony, who was traded to New York in 2011, on his plan to make the Knicks playoff-caliber. He moved quickly to rebuild a team that finished a disappointing 37-45 in 2014, when Anthony missed the playoffs for the first time in his career.

In June, the Knicks traded center Tyson Chandler and guard Raymond Felton to the Dallas Mavericks for guards Jose Calderon, Shane Larkin and Wayne Ellington, center Samuel Dalembert and a pair of second-round draft picks. The team then selected forward Cleanthony Early out of Wichita State.

The Knicks are expected to have enough cap space to make a run at a big-time free agent when the contracts of Amar’e Stoudemire and Andrea Bargnani expire next July.

On his website, Anthony said his “heart never wavered” despite flirtations with Chicago, Dallas, Houston and Los Angeles.

“This organization has supported me and in return, I want to stay and build here with this city and my team,” he wrote.

The Brooklyn native is a seven-time All-Star and a former scoring champion. He averaged 27.4 points and 8.1 rebounds last season.

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