New York, NY (SportsNetwork.com) - The Amar'e Stoudemire era is reportedly over in New York.

The New York Daily News reported Sunday night that Stoudemire and the Knicks formally reached a buyout prior to the All-Star Game.

Stoudemire, who was in the final season of a five-year $100 million contract he signed with the Knicks as a free agent in the summer of 2010, should clear waivers by Wednesday.

The amount of the buyout was not immediately known on the remainder of Stoudemire's $23.4 million salary for this season.

The 32-year-old Stoudemire, a six-time All-Star, averaged 25.3 points and 8.2 rebounds per game over 78 appearances in his first season in New York, but he played in just 177 games over the next four years, including 36 during the Knicks' 10-43 start to this season.