Noah (University of Florida) had been away from the team since clashing with former coach Jeff Hornacek last season, when he appeared in just seven games.
Unable to find a trade, the Knicks had to cut Noah by Monday to get down to a 15-man roster. He then signed a four-year, $72 million contract with NY as a free agent in the summer of 2016. He had an impressive spell with the Bulls, which included him being named NBA's Defensive Player of the Year in 2014.
Per ESPN's report, the Knicks will use the stretch provision, allowing them to spread the money they owe Noah in his final season over three years. His first season in NY ended early when he was suspended 20 games by the National Basketball Association in March 2017 for a failed drug test, a suspension that carried into the 2017-18 season.
Noah totaled 53 games over two seasons with the Knicks, averaging fewer than five points.
The Knicks also announced Saturday that they waived guard Kadeem Allen, signed in July, and forward Jeff Coby, who signed a training camp deal in September.
Natural gas output stranded after B.C. pipeline explosion
This line was shut down as a precautionary measure following the October 9 incident on its 36-inch gas line near Prince George. There's no word how long the natural gas interruption will last but GasBuddy estimates it could be at least two weeks.