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Knicks And Marbury Settle On A Buyout

The New York Knickes waived Stephon Marbury today after both parties agreed to terms of a buyout of Marbury's $21 million salary.

This leaves Jamaal Tinsley as the only Brooklyn point guard in exile, but the situations are a little different. The Knicks and Marbury had an arbitration hearing today which certainly moved things along. As far as I know, a hearing to consider the grievance Tinsley filed against the Pacers is not yet scheduled.

With Marbury free, he has until March 1st to sign with another team and remain eligible for the playoffs. That is, if a playoff caliber team is willing to add him to the mix.