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The New York Knicks can save more than $10 million of the $14.2 million owed to point guard Chauncey Billups(notes) next season if the team waives him within five days of its final game of the season.

But a source with knowledge of the team's thinking tells Newsday that the team isn't planning to waive Billups and use that dough on a different player. The Knicks are instead considering committing to Billups beyond 2012, the paper reports.

The paper notes that Billups, 34, may be a strong enough leader to man the point with such stars as Carmelo Anthony(notes) and Amar'e Stoudemire(notes) at the other end of his passes.

Since joining the Knicks with Anthony from the Denver Nuggets, Billups has only appeared in five games, averaging 20.4 points, 5.6 assists and five rebounds per game.

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Source: Newsday

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