The New York Knicks have agreed to terms with free agent guard J.R. Smith on a four-year, $24.7 million contract, according to Smith's agent, Leon Rose.

Smith's deal will also contain a player option in the fourth and final year.

The contract is the maximum amount the Knicks can give Smith via the early Bird rights, which allows a team to offer the average player salary with standard annual raises of 7.5 percent. The league's financial figures for 2013-14 will be released next week, but the average salary is projected at approximately $5.5 million.

The 27-year-old shooting guard averaged 18.1 points per game this season, finishing second on the Knicks in scoring behind forward Carmelo Anthony. He played an integral role in the Knicks' regular-season success but struggled mightily in the playoffs, making just 33 percent of his field goal attempts.

Signings can't become official until the league-wide moratorium is lifted July 10.

Smith also drew interest from the Milwaukee Bucks, Detroit Pistons and Dallas Mavericks earlier in the week.

With Smith's deal done, the Knicks now turn their attention on re-signing restricted free agents Pablo Prigioni and Chris Copeland. Prigioni will return to the Knicks, according to his agent, with a three-year deal. The third year is a team option. His contract will start around $1.5 million, the agent said, but can increase to $2 million with incentives.

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