The deal is reportedly for three years, 25 million. That's certainly a steep price for Felton but with the contracts that have been given out this summer, perhaps another team was offering a similar number or more years and the Knicks had to bump up their offer a bit.
Just last week it was Luke Ridnour but this seems to have more legs (stronger legs? longer legs?). No numbers or years to report yet but I'll update if and when the deal goes down.
If the Knicks are signing Raymond Felton along with the pieces they just acquired from Golden State, it looks like D'Antoni will finally pop the clutch and run teams out of the building.