(Photo by Stephen Dunn/Getty Images)

GREENBURGH, N.Y. (AP) The New York Knicks won't sign Allen Iverson, believing any short-term gain would hinder their plans to build for the future.

Team president Donnie Walsh said Friday the team won't make any additions at this time despite its 2-9 record. He added the decision to pass on the former MVP had nothing to do with Iverson's ability to play or his character in the locker room.

"I've always admired him," Walsh said. "I think he'd be a great addition for a team that's in a different position than we're in and I hope he gets picked up."

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