NEW YORK (AP) - Stephon Marbury has been waived by the New York Knicks, ending a turbulent five-year stint in which the former All-Star couldn't lead his hometown team to a single playoff victory.
The team released a statement Tuesday saying an agreement between the Knicks and Marbury had been reached, but did not disclose financial terms.
Marbury is one of the highest-paid players in the NBA, set to make close to $21 million this season, but has not played a game for new coach Mike D'Antoni.
He's eligible to play in the postseason for any team that signs him because he was waived by March 1.
(Copyright 2009 By The Associated Press. All Rights Reserved.)