The Knicks made the announcement on their official website on July 13:
"After three months of questions around Carmelo Anthony's return to the New York Knicks, we are now happy to know that we have the cornerstone of what we can envision as a 'team of excellence,' Jackson said. 'Steve Mills and I have assured Carmelo through our conversations, that we share the vision and the determination to build this team.'
'I have had the opportunity to be around some of the greatest players in our game, and now I have the honor of coaching Carmelo,' Head Coach Derek Fisher said. 'This is an exciting time for the New York Knicks franchise and our fans. I look forward to working with him and building something special together.'
"'I am a New York Knick at heart,' Anthony said. 'I am looking forward to continue my career in Orange & Blue and to work with Phil Jackson, a champion who builds championship teams. Madison Square Garden is the Mecca of basketball and I am surrounded by the greatest fans in the world.'"
Anthony's deal is worth between $122 million and $129 million, per ESPN New York's Ian Begley:
"Carmelo Anthony has reached a deal to remain with the New York Knicks.
"The team announced Sunday that it had re-signed Anthony, but did not disclose terms.
"The contract will be for more than $122 million but less than the five-year, $129 million tax figure, a source told ESPN The Magazine's Chris Broussard on Saturday...
"...Jackson added later Sunday that Anthony had taken less than the maximum to give the Knicks cap flexibility.
"'He did exactly what we kind of asked him to do. Give us a break in the early part of his contract so that when we have some wiggle room next year, which is hopefully big enough wiggle room, we can exploit it, provide a more competitive team for our group,' Jackson said after the Knicks' summer league practice in Las Vegas.
"Anthony and the Knicks had been in the final stages of negotiations since Saturday.
"Anthony also announced the deal via his personal website on Sunday afternoon.
"'A few years ago I dreamed of coming back to New York City, the place of my birth, and on February 23, 2011 that became a reality,' Anthony said in a statement. 'This organization has supported me and in return, I want to stay and build here with this city and my team. At this pivotal juncture in my career, I owed it to myself and my family to explore all of the options available to me. Through it all, my heart never wavered.'
"Anthony was being courted by the Knicks, Chicago Bulls, Dallas Mavericks, Houston Rockets and Los Angeles Lakers. He met with each team last week."
Begley also points out the Knicks are expected to be over the salary cap now that Anthony is back:
"With Anthony, Amar'e Stoudemire ($23.4 million) and Andrea Bargnani ($11.5 million) under contract for 2014-15, the Knicks are expected to be over the salary cap. Jackson had offered Stoudemire and Bargnani in trade talks with several teams in recent days, according to sources. He was unable to find a taker.
"Assuming Stoudemire and Bargnani remain under contract, the Knicks will have only the $3.3 million tax payer's exception and veteran's minimum contracts to offer free agents this summer.
"Jackson hinted that the Knicks would be prudent with their spending for the rest of the summer but made it clear that he would be looking to balance the guard-heavy roster.
"'We've been a taxpayer team for a little bit and we want to limit that. So, we're not not just going to foolishly throw money away because it's available to us,' Jackson said. 'We want to make an appropriate move that brings our team forward.'
"In the summer of 2015, the Knicks are projected to have at least $20 million in cap space. New York is expected to target the top free agents on the market that summer, a list which could include Memphis Grizzlies center Marc Gasol."
The 30-year-old Anthony is entering his 12th NBA season. He has averaged 25.3 points, 6.5 rebounds and 3.1 assists in 790 career regular-season games through July 13, per ESPN stats.