Ch. 481Settled Dust, Knicks' New Aristocracy!
Li Fei chose the New York Knicks over the Boston Celtics, prioritizing his business ambitions and New York’s proximity to Wall Street. His signing was announced on July 15, 1997, as the Knicks prepared to let Patrick Ewing go to make room for him.
- Li Fei told Falk that he wanted to build his brand into a public company and chose a major city as his next destination.
- Ernie Grunfeld pursued Li Fei with a $25 million annual salary and a Cablevision endorsement worth $10 million per year.
- Li Fei chose New York over Boston and signed a four-year, $100 million contract, alongside a separate $40 million endorsement deal.
- The Knicks decided not to renew Patrick Ewing’s contract to clear salary space for Li Fei.
- ESPN announced Li Fei’s decision on July 15, 1997, sparking a frenzy among sports media and fans.