The Knicks have agreed to a one-year contract with Mario Hezonja, ESPN reported Sunday night.
The deal is worth $6.5 million.
Hezonja was the fifth overall pick by the Orlando Magic in 2015, but never met expectations.
But the 23-year-old will give the Knicks some depth at small forward as he looks to reignite his career.
"Start spreading the news ... I want to be a part of it, New York, New York! Very excited to be joining the Knicks and play for coach Fizdale! A dream come true!" Hezonja tweeted Sunday night.
ESPN's Adrian Wojnarowski reported Sunday that several teams were interested in signing Hezonja, including the Portland Trail Blazers, Sacramento Kings and Memphis Grizzlies but that Hezonja was "drawn to coach David Fizdale, after going (through) several coaching changes in Orlando."
The 6-foot-8 Hezonja averaged 9.6 points, 3.7 rebounds and 1.4 assists in 22.1 minutes per game this past season. He shot 44.2 percent from the field, including 33.7 percent from 3-point range.
Knicks general manager Scott Perry was part of the Magic's front office when it drafted Hezonja.
The Knicks were never going to be players for the big stars in this year's free agency class. Their motive has been to maintain as much cap room as possible for 2019 when Kyrie Irving, Klay Thompson, Kemba Walker and Kawhi Leonard could all hit the open market.
Instead the Knicks have been committed to handing out short-term contracts this offseason.
The Hezonja signing fits that description.
The Knicks some of their non-taxpayer mid-level exception ($8.6 million) to sign him.
New York also agreed to terms with center Luke Kornet on a one-year, $1.6 million contract earlier in the day. The Knicks used Kornet's non-Bird rights to make that deal.
Kornet was on a two-way contract with the Knicks this past season.
