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Metta World Peace to the New York Knicks, Lakers gain slight savings

Metta World PeaceNew York KnicksNBAWesley JohnsonDwight Howard

It didn't take long for Metta World Peace to find a new home.  On Monday, World Peace agreed to join the New York Knicks on a two-year deal worth $3.3 million.

The veteran forward specifically will make $1,591,650 for the coming season.

The Lakers cut World Peace on Thursday, using their one-time amnesty to remove his contract from the team's salary cap and luxury tax computation -- saving the team about $15 million.

By the complex rules of the NBA's collective bargaining agreement, World Peace signing with the Knicks will reduce the amount the Lakers still owe ($7,727,280) by about $401,389.

For the coming year, World Peace will now receive $7.3 million from the Lakers and the $1.6 million from New York for a total of $8.9 million.

The opportunity to play for more money in his home-town New York probably took away some of the sting after the Lakers let World Peace go after four seasons (including an NBA title in 2010).

ALSO:

Lakers' week in review

Lakers make Wesley Johnson signing official

Steve Nash: Lakers' offense will be more fluid without Dwight Howard

Email Eric Pincus at eric.pincus@gmail.com and follow him on Twitter @EricPincus.

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