6:35 PM ET
Terms of the contract were not disclosed.
The Knicks also waived forward Omari Spellman on Thursday. Spellman hasn’t appeared in a game this season.
The Knicks waived had Gibson before the season as he was set to make $9.45 million.
Gibson, 35, appeared in 62 games (56 starts) for the Knicks last season, averaging 6.1 points and 4.3 points in 16.5 minutes per game.
He has career averages of 9.5 points and 6.3 rebounds.