The tenure of one of the highest profile New York Knicks of the last five years is coming to an end.

The Knicks announced today that they have reached a buyout agreement with forward Amar'e Stoudemire and will waive him immediately.

Knicks President Phil Jackson told the media Stoudemire - aka STAT - requested the buyout, and going forward Jackson said the team will try to fill his role with players that share the big man's desire to win.

"Amar'e's period as a Knickerbocker has come to pass, at his request. His time here should be marked by recognizing his effort - it was 100-percent," Knicks president Phil Jackson said. "As we move forward in structuring this team, we will look for players that exhibit his desire to win."

In his time with the Knicks, Stoudemire averaged more than 17 points per game while pulling down over six and-a-half rebounds.

"I will be forever grateful for the opportunity to contribute positively on the court and in the community," said Stoudemire, who intends to sign with a team in playoff contention after clearing waivers. "Although I leave the Knicks with a heavy heart, I wish the organization the best of luck. Once a Knick always a Knick."

He is in the last year of a five-year, $100 million contract, but in 36 games with the Kicks this season, he was averaging only 12 points.

Early reports say Stoudemire could land in several spots including Phoenix, L.A. Clippers and Dallas who many experts say is the most likely.