The Knicks exercised their fourth-year option on Wilson Chandler and third-year option for Danilo Gallinai, team president Donnie Walsh announced today.

Chandler, who is expected to start for the Knicks in the opener against the Heat, averaged 12.3 points and 4.9 rebounds in his first two NBA seasons. Gallinari, the sixth pick in 2008, had an injury-plagued rookie season with the Knicks playing in 28 games.