Source: Davis agrees to deal with Knicks

Sources told ESPN.com's Marc Stein and Dave McMenamin that Baron Davis has agreed to sign with the Knicks.

Stein and McMenamin write that the deal could be formally completed as soon as Sunday.

Davis cleared waivers Friday after he was released through the amnesty clause in the new labor agreement by the Cleveland Cavaliers.

The veteran has a a back injury that could sideline him for 8-10 weeks.

Mike D'Antoni said on Saturday that, despite Davis' injury, it's worth the Knicks "exploring" the possibility of adding him.

"I'm sure other teams are doing the same thing to evaluate [it]…. He’s a very good basketball player," the coach said.

Davis will fill a need for the Knicks.

The team has penciled in Toney Douglas as its starting point guard and Mike Bibby as a backup. But with Douglas lacking experience and Bibby coming off of a subpar playoff run with the Miami Heat, the Knicks have been interested in bringing in Davis as another option at point guard.

Details of Davis' deal weren't immediately known. The Knicks have the veteran's minimum to offer Davis. They also have the $2.5 million room exception to lure Davis, since it wasn't used on Jamal Crawford or Shawne Williams.

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