New York Knicks trade and free agency news update: Knicks re-sign Vujacic

After already landing three new guards, the New York Knicks do not seem to be contented with their line-up.

According to ESPN, they have agreed to sign veteran guard Sasha Vujacic to add more depth in the team's line-up.

The Knicks are still attempting to rebuild and seemingly have a good team on paper after acquiring Derrick Rose from the Chicago Bulls, Courtney Lee from the Charlotte Hornets, and Brandon Jennings from the Orlando Magic.

However, the franchise feel that they still need one more and Vujacic has agreed to join in with a veteran minimum contract.

According to the report, a big reason why Vujacic was brought to the team was due to his familiarity with running the triangle offense as he also played with the Los Angeles Lakers with Phil Jackson as the head coach.

Vujacic, 32, does not have the stellar numbers like other European players of his time, but he has two championships to his name as he averaged 5.5 points and 1.3 assists in his career.

He also played with the Knicks in his last NBA stint, playing 61 games and starting 25. During his time at the Garden, Vujacic averaged 4.9 points and 1.4 assists.

The Knicks are now reloading on talent but are trying to get them as cheap as possible as they already have big assets with Carmelo Anthony and Rose on board.

As of this writing, the Knicks have 13 guaranteed contracts. The league states that a team can have a maximum of 15 guaranteed contracts per year.

New York are still one of the biggest markets in the league today but have found it extremely difficult to make it back in the playoff picture. Last season, they finished 32-50, good enough for third in the NBA Atlantic Division, but 13th in the Eastern Conference.