Allan Houston was close to signing his six-year, $100.4 million contract last night. Houston’s signing did not become official yesterday because of an 11th-hour dispute between the NBA and the Player’s Association on the final figure of next year’s salary cap. The dispute was resolved last night with the salary cap set at $42.5M.

Houston’s exact totals could not be determined until the cap was set at 7 p.m.. Both Houston and the Knicks were also still finalizing minor issues such as payment schedules. The contract will start at $12.75M. The Knicks will announce the signing today.

The NBA and player’s union thought they had a cap deal Tuesday night at $42.5M. However, the Player’s Association objected to language in the deal that, according to attorney Ron Klempner, “prejudiced our rights to share in future revenues.”