New York Knicks Waive Amar'e Stoudemire

The New York Knicks announced Monday afternoon that they have waived center Amar'e Stoudemire, who signed a five-year, $99.7 million contract with New York in July 2010.

Stoudemire is expected to clear waivers on Wednesday at 5pm ET and become a free agent.

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“Everyone here at the Knicks organization appreciates the contribution Amar’e has made to the team and the entire City of New York over the past five seasons,” Knicks General Manager Steve Mills said. “We have developed a relationship that has translated into a long-term friendship, and it will continue through the remainder of his NBA career, and beyond.”

"I feel truly blessed to have been able to play for the incredible New York fans, Mr. Dolan, my coaches, teammates and the entire Knicks organization for the past five years,” Stoudemire said. “I will be forever grateful for the opportunity to contribute positively on the court and in the community. Although I leave the Knicks with a heavy heart, I wish the organization the best of luck. Once a Knick always a Knick."

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