The newly minted New York Knicks President and General Manager Steve Mills announced today that the team has exercised its fourth-year contract option on guard Iman Shumpert.

In two seasons, Shumpert, 6-5, 220-pounds, holds career averages of 8.3 points, 3.1 rebounds and 2.3 assists over 26.0 minutes in 104 games (80 starts) with New York.

He appeared in and started, 45 games last season to average 6.8 points, 3.0 rebounds and 1.7 assists over 22.1 minutes.

The Oak Park, IL native was originally selected by the Knicks in the first round (17th overall) of 2011 NBA Draft and earned 2011-12 NBA All-Rookie First Team honors.

VIDEO DISCUSSION: Knicks fans okay with Hardaway Jr.’s return, but concerned about $71 million

Phil Jackson is out as the NY Knicks president and directly after his exit, the Knicks inked a four-year deal to bring Tim Hardaway Jr. back to the team.

New York Knick fans seem to be okay with Hardaway’s return because of his improvement since going to the Atlanta Hawks. However, fans are crowing about Hardaway’s $71 million four-year deal.

Meanwhile, David Griffin, former Cleveland Cavaliers general manager, has turned down the job of general manager of the New York Knicks.

So the hunt for a general manager continues. Purportedly, the new general manager will report directly to Steve Mills, who is expected to be elevated to team president.

This might be the best bittersweet news of the entire year if you're an avid Knicks fan and supporter. Reported first by Stephen A. Smith, a journalist and NBA insider for ESPN, the worldwide leader in sports, Phil Jackson was approached by New York Knicks management about a possible job offer that would give him the responsibilities as the next Head Coach of the Knicks.

Recent reports have been modified updating that report stating that the Knicks have offered Jackson a front office position as team president of basketball operations. I thought that was current GM Steve Mills' job to lose? What about Assistant GM Allan Houston? But this is how Jim Dolan, President and CEO, Cablevision Systems and Chairman, Madison Square Garden company orchestrates his business. The business that we are most concerned with is the New York Knicks.

As of today March 3, 2014, the New York Knicks are well on their way to a disappointing and deflating representation of an NBA regular season, positioned 10th in the Eastern Conference standings, a 25-40 overall record currently enjoying a 4-game winning streak. A new episode of Marvel Agents of Shield premiered tonight on ABC-TV. If you were unaware, it's a pretty good show.

Let's get this Knicks stuff out of the way because that's how hard it is to watch this team. That's how hard it is to fully invest your spirit into the Orange and Blue. Maybe the addition of Phil Jackson in a management arrangement could ease the pain and give us a substantial amount of faith even though it might not translate to wins on the court immediately. Maybe down the road, we will see the fingerprints of what 11-world championships won as a coach and two championships won as a player could transition into as a talent evaluator and trader.

Maybe down the road, we could see an entire franchise image make-over rivaling the San Antonio Spurs organization, minus the dynasty (it's too early) due to the insertion of one man. Maybe he could be exactly what we need. All of these predictions and future dreams could be a reality if Jackson indeed joins the Knicks organization and is given the space and opportunity to operate, only if Dolan keeps his hands to himself. Only if Dolan owns the team and does not get involved in basketball related ideas influencing management transactions and in that case, he has done enough.

Donnie Walsh, remember him? Presently a consultant for the Indiana Pacers was the former President of Basketball Operations for the Indiana Pacers and the New York Knicks. He only drafted a Hall-of-Famer in Reggie Miller in 1987 and aided the construction of a team in the 2013-2014 Pacers who are the number one seed in the Eastern Conference. As of today, the Pacers are 47-17, the best record in the NBA. What Walsh did for the Knicks made him our messiah, as long as he was employed by the Knicks. In 2008, Walsh cleared $27 million off the Knicks payroll in trading players with large contracts for cheaper and durable pieces. He cleared cap space for the Knicks to have a chance at signing a max player among the summer free agent class of 2010, in which Lebron James, Chris Bosh, Dwayne Wade, Amar'e Stoudemire and Joe Johnson, were all available. He signed Stoudemire to a five-year $100-million dollar deal. The Knicks were back.

They were having a great season until some bumps in the road steered the Knicks off-track momentarily which prompted Dolan to don his basketball hat and command the pursuit of then Denver Nuggets star F Carmelo Anthony. Walsh obeyed his wishes sacrificing the punch of the team while mortgaging the future. Due to health, pride, and superior basketball knowledge Walsh resigned June 3, 2011.

As Walsh left, a man within the organization became his successor in Glen Grunwald, the former Vice President of the Denver Nuggets and Toronto Raptors. He only orchestrated a trade to acquire Vince Carter and drafted Tracy McGrady, giving the Raptors three consecutive playoff berths from 2000-02, which included a trip to the conference semi-finals. In 2012, Grunwald was promoted to general manager and executive vice president of basketball operations for the Knicks. He gave us one of the best seasons to date. In the 2012-13 NBA season, Grunwald manufactured a Knicks team with veterans and role players built around the centerpiece in Anthony to achieve a 54-28 regular season, which clinched their first Atlantic Division crown since the 1994 season and a trip to the second round of the 2013 playoffs.

Like Walsh, Grunwald was let go also following his success. This is all while Dolan has maintained his basketball hat. These moves illustrate that Dolan doesn't allow room to grow or develop, but space to do nothing as your General Manager job will be in jeopardy if he doesn't approve. Now the Knicks General Manager responsibilities belong to a bright gentleman who has never operated Basketball Operations in his life, Steve Mills. The basketball hat is still on. This is the beautiful mind of Dolan at work. Those are his actions.

What does the potential arrival of Jackson mean?

Does it mean that Dolan will actually let the basketball people handle basketball related activities or, is it only a matter of time before he interferes and aides another exit of a great basketball mind?

The mere idea of pursuing Jackson while Mills, the man occupying the current GM position, which hasn't lasted an entire NBA season, says it all.

Dolan can't wait.

You would think he will leave his hands to himself because it is Jackson, the "Zen Master," a man inducted into the Basketball Hall of Fame as a coach, but we don't know. I have faith in a coach who has won 11 world championships to have an idea in choosing the kind of players he suspects has the characteristics and skills that result in wins on the basketball court. Does Dolan believe so, or is this just to save face and throw someone else to the wolves of the general public and the media capital of the world.

It's interesting, isn't it?

Phil Jackson New President of New York Knicks

Just as the New York Knicks shocked the basketball universe winning 54 games last year, their division and their first playoff series in more than 10 years, they have done a complete 180 this year. It's been a Murphy's Law kind year for the Orange and Blue that has it 13 games under .500 and currently 4 games out of the last playoff spot.

Think of a way for them to lose a game and they have done it. With criticism mounting, talk of a new head coach and a protest planned before their game against Indiana Wednesday night, rumors began that owner Jim Dolan had reached out to ex-Knick Phil Jackson. The meeting was brokered by mutual friend Irvin Azoff back in December. When Jackson made it clear that he had no interest in coaching, Dolan offered him President of Basketball Operations.

Jackson was introduced to the media Tuesday morning at the World's Most Famous Arena, the place where Jackson earned his first two championship rings with the Knicks, the last coming in 1973. Since then, Jackson added 11 more rings between the Chicago Bulls and Los Angeles Lakers. Signing a 5-year contract at an estimated $12 million per year, the clock has started to see if he can add another ring to his illustrious career.

Phil Jackson spoke off the cuff after being introduced not relying on a pre-written statement. Aside from Dolan and General Manager Steve Mills, former teammates Walt "Clyde" Frazier and Dick Barnett attended as well. He began by talking about the concept of a team.

"We want to build a team. This is a franchise that developed a team back in the 60's that was consistently playing team basketball for 7, 8 years. That's the cache that I think brought me here. There are things I believe that the players should have that's important to them. They should have the security in knowing they will be supported by the organization and coaching staff. Putting yourself on the line, you need to have that support. This is something we want to build for them."

Dolan's history of meddling with his past hires has been well documented; most notably the Donnie Walsh saga, and more recently with his last GM, Glen Grunwald. Dolan rarely speaks to the media and thus, the media feels he has little regard for them. Aware of that, Jackson made a plea, as he emphasized he wants to change the negative perception surrounding the team.

"I want to develop relationships with people here. I'm reaching out to you today and the media people to say we can have an open relationship. We need your support and the fans need a positive atmosphere to come and enjoy the game and the players need a positive attitude in which to play."

Phil Jackson would not have taken the position if he was not guaranteed total autonomy and control of basketball operations. His first official order of business will be talking to Head Coach Mike Woodson and the team before they face the Pacers riding a 7-game winning streak. He's hoping his presence will have an effect on the rest of the season culminating in getting into the playoffs, even if their opponent is Miami or Indiana.

While not the most athletic player on those championship teams, Phil Jackson was a student of the game under legendary coach William "Red" Holzman who stressed passing the ball, finding the open man and playing good old fashion team defense. Jackson remembers when Holzman picked him up at Kennedy airport the year he was drafted by the Knicks in 1967. In short, driving to the city Jackson experienced New York City first hand as a kid threw a brick from the overpass, smashing the front window.

Not deterred, Holzman looked at Jackson and said, "You know New York is not the easiest place to live. But if you can make it here, you can make it anywhere."

Jackson has made it as a player in New York and as a coach in Chicago and Los Angeles. He wants to come full circle and make it as President of the New York Knicks.

Glen Grunwald Stays on with the New York Knicks as an Advisor

The New York Knickerbockers announced today that Steve Mills, who previously served as a key executive with the Knicks for 10 years, has been named the team's president and general manager. Mills replaces Glen Grunwald, who will remain with the organization as an advisor.

"I am pleased to be able to welcome Steve back to the Knicks. He is a well-respected sports executive with a strong background in basketball, as well as a familiarity with NBA operations and our company. We look forward to his leadership and believe he is the right person to help us reach our ultimate goal of winning an NBA Championship," said James Dolan, executive chairman of The Madison Square Garden Company.

"We are grateful for Glen's many years of valuable service and pleased that he will remain with the organization," Dolan added.

A 30-year veteran of the sports world, Mills' career has included 16 years with the National Basketball Association, where his talents led to a notable ascent from account executive to senior vice president of basketball and player development. This was followed by 10 years at The Madison Square Garden Company, where Mills had a wide range of responsibilities that included overseeing business and basketball operations for the Knicks and Liberty, along with business operations for the Rangers and for all other sports-related activities at The Garden.

"I want to thank Jim for this opportunity to return to the Knicks in this important position. It is an honor and a privilege to work for such a storied franchise and I look forward to doing whatever it takes to make the Knicks a successful franchise and a team that fans can be proud of, both now and in the future," Mills stated.

After 10 years with the Toronto Raptors, Grunwald has been with the Knicks in various capacities since 2006 and will continue to work with the organization as an advisor.

Mills' decade-long career at The Madison Square Garden Company included his role as president of MSG Sports, during which he oversaw all business operations, including marketing and community relations, for the company's three professional sports teams and Sports Properties, which included college basketball, boxing, and track and field. Steve originally joined the Knicks as executive vice president of franchise operations in September 1999 and became president of sports teams operations for Madison Square Garden in 2001.

Prior to his move to The Garden, Mills played an integral role in the development of the National Basketball Association, where he held several positions with increasing responsibility, including his last role as senior vice president, basketball and player development. His responsibilities included managing the league's relationships with all domestic and international basketball organizations, including the NCAA and USA Basketball, as well as overseeing the NBA's developmental programs and player initiatives during one of the most critical periods in league history. Mills also played a key role in the creation of the Women's National Basketball Association and served on the team responsible for the negotiation of the NBA's Collective Bargaining Agreement. Mr. Mills started his career with the NBA in 1983 as an account executive in the corporate sponsorship department of NBA Properties.

Before returning to MSG, Mills most recently served as partner and CEO of Athletes & Entertainers Wealth Management Group, LLC, a company he created in 2010 that links sports and entertainment stars with investment and management leaders to create new business opportunities.

An accomplished collegiate basketball player, Mills started three seasons at guard for Hall of Fame Coach Pete Carril at Princeton University, where he helped lead the Tigers to two Ivy League first-place finishes, including the league title and a NCAA berth in 1981. He also played professionally for one season in South America in 1981.

Mills earned a degree in sociology from Princeton in 1981 and has served on the Board of Trustees for the Naismith Memorial Basketball Hall of Fame and the Board of Directors for USA Basketball. He currently serves on the Board of Directors of the Princeton Varsity Club and on the Advisory Board for Manhattan's Hospital for Special Surgery. Mr. Mills and his wife Beverly have two daughters and reside in South Orange, NJ.

J.R. Smith, and brother of Chris Smith, not a happy camper according to his Instagram post

New York Knickerbockers President and General Manager Steve Mills announced today that the team waived guard Chris Smith, the brother of Knicks shooting guard, J.R. Smith. In Smith's place, the Knicks signed forward Jeremy Tyler of the Erie BayHawks, the 10th Gatorade Call-Up from the NBA Development League this season.

As reported in the New York Daily News, J.R. Smith admitted that he "wasn't happy" that the Knicks waived his younger brother earlier this week.

Speaking for the first time since the Knicks decided to cut Smith to create a roster spot for Jeremy Tyler, J.R. Smith declined to discuss the Instagram message he posted that read: "You know the sad thing about betrayal. It never comes from an enemy."

Nowhere in the message does Smith refer to the Knicks, but it was posted amid reports that Chris Smith was about to be released.

Chris Smith, 6-0, 200-pounds, signed with New York on September 10, 2013, and appeared in two games, playing two minutes. He was assigned to Erie on November 18, 2013, where he played six games before being recalled on December 17, 2013.

Tyler, 6-10, 250-pounds, has averaged 18.0 points, on 47.8-percent shooting, and 10.2 rebounds over 31.0 minutes in six games (all starts) with the BayHawks. He originally signed with New York on August 6, 2013, after playing for the Knicks' entry in NBA Summer League in Las Vegas, NV, and was waived on October 25, 2013, while recovering from a broken right fifth metatarsal.

The San Diego, CA-native, was originally selected by the Charlotte Bobcats in the second round (39th overall) of 2011 NBA Draft before having his rights traded to the Warriors. He holds career averages of 3.6 point and 2.5 rebounds over 10.1 minutes in 63 games (23 starts) over two seasons with Golden State and Atlanta. He played professionally in Israel (Maccabi Haifa) and Japan (Tokyo Apache) for two seasons after leaving San Diego High School following his junior season.

Stephen Curry wins the NBA MVP Award for the second consecutive year; is Sam Bradford delusional; Frank Vogel still looking for an opportunity to coach

In this episode of What's The 411Sports, Keisha Wilson and Mike McDonald are talking about:

Golden State Warriors point guard Stephen Curry wins the NBA MVP Award for the second consecutive year and the first player to win with a unanimous vote
Golden State Warriors head coach Steve Kerr wins NBA Coach of the Year award
The Indiana Pacers decided not to renew head coach Frank Vogel's contract
The Memphis Grizzlies fire Dave Joerger and the Sacramento Kings hires Joerger and pays him more money
The Houston Rockets are still searching for a head coach
The NFL issues a warning about eating meat in foreign countries
Golden State Warriors assistant coach Luke Walton gets the Los Angeles Lakers head coach position
Former Los Angeles Lakers head coach Byron Scott says he was blindsided by the Lakers’ firing
Miami Heat center Chris Bosh won’t be with the Miami Heat during its playoff run, as Bosh is out for the season because of continuing issues with blood clots
Caitlin Jenner will pose nude for the cover of Sports Illustrated

Additional in-depth conversations focus on: Cardale Jones, Eli Apple, Sam Bradford, Laremy Tunsil, the Penn State scandal involving Jerry Sandusky, and Joe Paterno.

The NY Sports Report focuses on the Brooklyn Nets introduction of its new head coach Kenny Atkinson, which should be imminent since the Atlanta Hawks’ playoff run has come to an end and ending Atkinson's assistant coaching duties.

The New York Knicks is still leaving fans and the media in the dark regarding its head coach for next season. It’s been rumored that former Indiana Pacers coach Frank Vogel or his agent may have spoken with Steve Mills, executive vice president and general manager of the New York Knicks, and not Knicks president, Phil Jackson. This rumor has left many Knicks fans to worry that Jackson is going to keep Kurt Rambis as the Knicks head coach.

New York Knicks introduce Derek Fisher as the new head coach.. In the photo (l to r) Steve Mills, Derek Fisher, and Phil Jackson.