He tweeted about it early this morning, but the Knicks officially announced the signing of Baron Davis via their Twitter feed today:

OFFICIAL: Knicks Sign FA Guard, Baron Davis

There are some conflicting reports on the actual contract but Al Iannazzone reports it's for the room exception.

Free-agent point guard Baron Davis will sign a one-year deal today with the Knicks for the $2.5 million exception.

The team will have to wait a month before he's able to step on the floor but don't seem too concerned. Considering what's left of the free agent market, and for a one-year commitment, I wouldn't either.

Beard up, bros!

Update: Howard Beck now says that Davis will sign for the veteran's minimum, ($1.4 million) which would be most excellent. That leaves the room exception to be dangled for a free agent frontcourt player of some sort (Beck names James Posey).

Update: Alan Hahn:

Baron Davis will wear No. 85, as he did in Cleveland. It represents the street in Ohio where he lived with his grandparents.

A bit of research leads me to believe that this is the highest jersey number on the Knicks ever. This is Seth, by the way. <3.