Rejoining the Knicks yesterday after nearly a one-month Houston rehab assignment, “Stevie Franchise” deserves a new nickname: “SMI.”

“Stephon Marbury Insurance.”

Battling knee tendinitis, Francis said he’s still two weeks away from suiting up, but no one knows if he’ll make it back into the backcourt rotation. That is, unless Marbury’s same ailment flares up and forces him to miss more games.

When asked Francis’ future role, Isiah Thomas said, “We’ll see.”

Not exactly a ringing endorsement of Francis’ future. Thomas added Francis would have to earn his playing time. “If he’s playing well, we definitely want him back,” Thomas said.

“It’s going to be hard,” Francis admitted. “It’s not going to be a walk in the park. Guys are playing great at those positions.”

Francis participated lightly in practice yesterday. He said the knee is no longer swollen. He also believes he was unfairly criticized for unproductive play and wanting out.

“It’s hard when people assume so many different things,” Francis said. “When you’re injured, you’re injured. You can’t perform to your capabilities. I don’t think people have given me a chance.”

Quentin Richardson, team MVP of November, is still hurting since making his return from a chronic disk injury Jan. 10. Richardson occasionally winces after his follow-through. “He’s got some things bothering him,” Thomas said.

“He’ll be OK. He’ll continue to fight through it but he’s not 100 percent.”

Free-agent bust Jared Jeffries, who has played five minutes in three of the last four games, spent an hour after practice alone, working with assistant coaches.