The Knicks are one of only two teams of the original National Basketball Association still located in its original city (the other being the Boston Celtics). The Basketball Association of America and the National Basketball League merged in 1949 to form the NBA.

The Knicks won their first NBA Title in 1970 against the star-studded Los Angeles Lakers. The series also featured an injured Willis Reed hobbling in the Garden during Game 7.

Since the end of the Patrick Ewing era, Knicks have struggled to even reach the playoffs. The Knick's payroll is currently the highest in the league, at over $100 million, but the team has been among the worse in the NBA. The hiring of Hall-of-Fame player Isiah Thomas to replace as general manager the unpopular Scott Layden was seen as a chance for redemption, but Thomas's reign has not lived up to his expectations. To his credit, he has traded aging veterans and expiring contracts for talented players, such as star point guard Stephon Marbury, talented guard Jamal Crawford and athletic swingman Quentin Richardson. However, Thomas has also accepted many questionable players in trades: Penny Hardaway, an oft-injured swingman with a massive contract; Jerome Wiliams, an excellent and hardworking defender but also saddled with a large contract; Malik Rose, a backup forward with a large, long-term contract; Maurice Taylor, a disappointing power forward with a huge contract; and Tim Thomas, an athletic player but known as a career underachiever who has an enormous contract as well. In addition, the talents Thomas has added are also somewhat questionable. Marbury has a reputation as being both selfish and a locker room pest, while Richardson and Crawford have until now not lived up to their potential.

However, with an influx of young talent from a large amount of draft picks, and the signing of famed Larry Brown as head coach, the Knicks could possibly return to the playoffs, and even reclaim its former position as a title contender.