After five years, the New York Knicks and Power Forward or Center Amar'e Stoudemire will be severing ties.

The Knicks have agreed to buy out Stoudemire's current contract making him a free agent, who hopes to be picked up by a team in playoff contention.

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Stoudemire was in the final season of a five-year US $99.7 million contract.

After clearing several waivers, he is aiming to land in a team that will go far in the playoffs.

Teams like the Los Angeles Clippers and the Phoenix Suns have expressed interest in acquiring Stoudemire.

However, the Dallas Mavericks are reported to be the front runners.

The waivers will be officially waived on Monday, freeing him up by Wednesday.

Sources close to ESPN.com stated that teams such as the Golden State Warriors, Memphis Grizzlies, Portland Trail Blazers, and Cleveland Cavaliers are all teams contending for the playoffs that are not actively pursuing Stoudemire.

Stoudemire spent the free time from the All-Star break to think about the direction his future will head toward.

He specifically thought of whether to ask the Knicks - last place in the league - for a buyout in order to make an opportunity for himself with another team.

The decision was not an easy one to make, but after some rest and relaxation with his family though, he finally decided to ask the Knicks for his buyout.

His position with the Mavericks is an integral one though, and one that could significantly contribute to the team's playoff run.

While the team may only be allowed to pay the veteran's minimum salary, he will play an important role of the Maverick's bench.

He is a great candidate for minutes at power forward and center behind current superstars, Dirk Nowitzki and Tyson Chandler.

Chandler thinks that Stoudemire will be a good fit to the team as they play a lot of pick and roll plays.

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