Report: Carmelo Anthony plans to announce signing with Knicks on Thursday

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If the reports are true, unrestricted free-agent forward Carmelo Anthony will don a New York Knicks jersey next season.

A report from the New York Daily News cites that baring a last-minute change of heart from Anthony, the eight-time All-Star will announce his decision to re-sign with the Knicks on Thursday. 

Adrian Wojnarowski of Yahoo Sports echoed the Daily News' sentiments, and relays that the thinking within Anthony's camp is to sign a maximum deal with New York. If it doesn't work out, a trade reportedly exists as an exit strategy. 

Signing a maximum deal with the Knicks lands Anthony the biggest contract possible, as terms would dictate a five-year deal worth $129 million. Should Anthony choose to sign elsewhere, the most he could sign for is four-years, $96 million.

In the interim, returning to the Knicks lands Anthony back with a roster that missed the playoffs last season. Most of the principles of last season's teams still remain, including the frontline of Amar'e Stoudemire and Andrea Bargnani. Signing elsewhere - with the Chicago Bulls, for example - could potentially provide Anthony with more help in the interim. 

However, the Knicks financial situation becomes unclogged next offseason, as the $35 million owed to Bargnani and Stoudemire are set to come off the books, which should provide the team with a window to restock. 

And, as noted by Wojnarowski, if the Knicks fail to improve, the option always exists for Anthony to force a trade to location of his liking, an avenue he took to find his way to New York in 2011.