The Knicks officially bought out the contracts of guard Beno Udrih and forward Metta World Peace Monday, then officially waived them. From the Knicks' release:

“We are disappointed that it did not work out for Beno and Metta here in New York,” Mills said. “We thank them for their contributions this season and wish them well."

Metta World Peace soon released a statement of his own:

"It was a childhood dream of mine to play basketball professionally in New York City, and it has truly been a blessing for that dream to have come true. However, under current circumstances, my agent and I have agreed that being bought out would be the best option for me professionally. I would like everyone to know that whether I was on the court or off, I could not have been happier playing for and cheering on this amazing city, my city. Lastly, I would like to thank all of the incredible fans of New York, as well as my teammates, my coach and the Knicks' owner for the wonderful opportunity to play in my hometown."

The Knicks reportedly unsuccessfully tried to trade Udrih at the trade deadline, after a season in which Udrih was repeatedly singled out by coach Mike Woodson amid the team's total failures.