New York Knicks forward Josh Hart is exercising his $12.9-million player option for the 2023-24 season, sources told The Athletic's Shams Charania.

Hart joined the Knicks from the Portland Trail Blazers as part of a four-team deal at the February trade deadline. He played 25 games in New York, making one start, and shot 51.9% from deep while averaging 10.2 points, seven rebounds, 3.6 assists, and 1.4 steals. He played 30 minutes per contest - the fourth-highest mark among all Knicks players last season.

His statistical output in the postseason was similar as he helped New York eliminate the Cleveland Cavaliers in Round 1 before the Knicks lost the East semifinals in six games to the Miami Heat. However, he cooled off from distance, shooting 31.3% in 11 playoff contests.