Sprewell accepts 5-year deal, $61.9 million extension 10.29.99

Latrell Sprewell has decided to accept the New York Knicks' offer of a five-year, $61.9 million contract extension. Sprewell, also offered a two-year, $21 million deal, made the announcement before the Knicks' 106-103 loss to the New Jersey Nets on Thursday night. As recently as Wednesday, he was believed to have been leaning towards the shorter contract. "I'm happy with the numbers in the five-year deal," Sprewell said. "I feel more secure with that. That's what I feel more comfortable with. "I think if I had taken the two-year, I would have been wondering if it was the right thing. In the back of my mind I would have been thinking, 'Let's stay healthy.' I just want to go out and play and not worry about being healthy because my contract is up in a couple of years." The 29-year-old Sprewell will earn $9 million this season, the final year of the four-year deal he signed with Golden State three years ago. His new contract, which includes an opt-out clause after four years, will kick in next season. Sprewell was expected to sign the new deal as early as Friday.