The newly minted New York Knicks President and General Manager Steve Mills announced today that the team has exercised its fourth-year contract option on guard Iman Shumpert.

In two seasons, Shumpert, 6-5, 220-pounds, holds career averages of 8.3 points, 3.1 rebounds and 2.3 assists over 26.0 minutes in 104 games (80 starts) with New York.

He appeared in and started, 45 games last season to average 6.8 points, 3.0 rebounds and 1.7 assists over 22.1 minutes.

The Oak Park, IL native was originally selected by the Knicks in the first round (17th overall) of 2011 NBA Draft and earned 2011-12 NBA All-Rookie First Team honors.