The team announced earlier today that it had resigned Anthony. Terms of the deal were not announced but according to ESPN’s Chris Broussard, the contract will be for more than $122 million but less than the five-year, $129 million max figure.

“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 envision as a ‘team of excellence,’” said Knicks president Phil Jackson said in a released statement. “

Despite exploring the market, Anthony had publicly expressed his desire to return to New York. Last summer, Anthony told a room full of kids at his ProCamps basketball camp at Queens College that he wanted to stay: “I’ve been in the NBA ten years and time is flying,” said Anthony.

“And it seems like it was yesterday. My window is closing, so I’m trying to get this championship to New York ASAP.”

Anthony christened the deal by posting his own announcement on his website ThisIsMelo.com:

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. 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.

During this journey I met with some quality organizations who have amazing talent and leadership. I thank them for their consideration, belief in my talent, and opportunity to imagine the possibilities.

I will always remember this chapter in my life. In the end, I am a New York Knick at heart. I am looking forward to continuing 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.