This news comes just after two days of Rose's agent, B.J. Armstrong, telling both Sirius NBA and the New York Post that his client is fully committed to the Knicks for a long-term. Rose was apparently on the market before the trade deadline, but the team was not able to land a deal for him. Derrick Rose will now be a free agent for this summer.

With all this commotion, it is clear that the team's Derrick Rose experiment failed. As an individual player, though, Derrick Rose had a fine season with an average of 17.6 points, 4.4 assists, and 3.9 rebounds. He has a record of shooting 46.2 percent this season and has shown an ability to get into the paint and score at the rim that the Knicks desperately needed. However, it cannot be ignored that he had a harmful effect on New York's defense when he's been on the court, reported NBA.

He is infamous for being a poor defender and an unreliable outside shooter which puts him in an awkward position of being unable to help his team overall. The matter that puts him in a tight spot is that he's not a great enough scorer and cannot really command an offensive move nicely. This is why it is being widely speculated that the New York Knicks will simply let him go reported, CBS sports.

Now it is a waiting game for the fans to see if the team decides in the aforementioned direction or not. The New York Knicks is already missing Joakim Noah because of his knee surgery and now Brandon Jennings is also gone. With a good center, Robin Lopez and a promising guard prospect (Jerian Grant) for Rose, this is the right time for the team to let Derrick Rose go. Stay tuned for more NBA updates.