Knicks Sign Ryan Arcidiacono, Waiving Wayne Selden

The Knicks have signed point guard Ryan Arcidiacono to a 10-day contract, the team announced in a press release.

Additionally, New York is waiving guard Wayne Selden, according to Fred Katz of The Athletic.

The Knicks also took part in a three-team trade with the Lakers and Cavaliers in which they acquired guard Denzel Valentine, announced Monday.

Arcidiacono, 27, is 6-foot-3 and spent four seasons with the Bulls, initially signing a two-way contract before having it converted to a standard deal. He entered this past offseason and this is his first contract since then.

He most recently has been playing for the Maine Celtics of the G League, where he carries averages of 12.7 points, 8.0 assists and 5.7 rebounds. He averaged 3.1 points in 44 games with the Bulls last season.

Selden, 27, is 6-foot-4 and made three appearances with the Knicks and scored five total points. He has also spent time with the Pelicans, in the G League and in Israel.

“Selden would’ve earned a $1,729,217 salary if he had remained under contract for the entire season,” wrote Luke Adams of Hoops Rumors. “Because he’s being released now, he’ll instead make a prorated minimum of $785,104, which is also the amount that will apply to New York’s team salary.”