The Knicks exercised Iman Shumpert's third-year option.

It's just a bit of housekeeping, and there was never really any doubt it was going to happen, but here's the pleasant news from Nate Taylor:

The Knicks have announced they have exercised its third-year option on Iman Shumpert.

The Knicks are now now committed to pay Iman about $1.7 million in 2013-2014. Because Shump's on a rookie contract, New York will have another team option (with a raise) going into his fourth season. If that fourth year gets picked up, Shump will become a restricted free agent in the summer of 2015, at which point the Knicks will probably get into an excruciating bidding war with the expansion Helsinki Sea Boars. That is unless an extension gets signed at some point, like maybe a lifetime one. We'll cross that bridge when we come to it.

In the meantime, let us embrace these encouraging words Iman spoke to the MSG folks and look forward to the day he returns to the floor with a fully reshumpificated knee.

Long live Shump.