The New York Knicks have exercised the third-year option for shooting guard Tim Hardaway Jr.
The move, announced Tuesday afternoon, was largely expected. Hardaway had a strong rookie season in New York, averaging 10.2 points in 23.2 minutes per game last season. He was selected 24th in the first round of the 2013 NBA Draft and is slated to earn $1.3 million in 2015-16.
It is unclear at this point if the Knicks will exercise the third-year option on point guard Shane Larkin or agree to an extension with guard Iman Shumpert.
Larkin, who is scheduled to make $1.6 million in 2015-16, was acquired from the Dallas Mavericks in a trade last June. Larkin has played significant minutes in the preseason, and Knicks coach Derek Fisher seems to be pleased with his play.
The deadline to pick up options or extend players on their rookie contracts is Friday.
According to league sources familiar with the dynamic between Shumpert and the Knicks, there had been no discussions about a possible extension entering this week.
If the Knicks don't agree to an extension with Shumpert, he will be a restricted free agent this summer.
