Metta World Peace is now a member of the New York Knicks after both parties agreed to a two-year deal, multiple sources reported on Tuesday.

World Peace becomes the latest addition to the Knickerbockers after he was amnestied by the Los Angeles Lakers to save harsher luxury tax bill. The burly forward averaged 12.4 points and 5.0 rebounds in his final season with the purple-and-gold.

With World Peace's return to New York basketball scene, the Knicks suddenly have a formidable frontcourt depth with Amar'e Stoudemire, Andrea Bargnani, Carmelo Anthony and Tyson Chandler also in the fold.

Finally, the Knicks have a lockdown defender in the perimeter that can guard the opposing team's premier wing player, and at the same time, provide offensive firepower off the bench.

According to Andrew Wojnarowski of Yahoo Sports, World Peace will collect $1.6 million in the first year of the deal with a players option in the second year.

"No need to look at the contract," World Peace said following his contract signing with the Knicks. "What's the number, a dollar? Just give me the paper, I gotta sign that."

The Knicks once again put themselves in position to contend for that elusive NBA championship despite the upgrades undertaken by several Eastern Conference squads, including their city rival Brooklyn Nets, who presented an All-Star-caliber starting five.