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Justin Holiday, who averaged 7.7 points per game for the Knicks last season, will sign a two-year, $9 million contract with the Chicago Bulls, according to a league source.

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Julie Jacobson/Associated Press

The Knicks’ quiet off-season continues. While the rest of the N.B.A. churns, with star players moving around as if they were on a carousel, the Knicks have chosen to hold almost entirely still.

On Sunday night, they lost Justin Holiday, a free-agent shooting guard, to the Chicago Bulls after not making a formal offer to re-sign him. Holiday, 28, will sign a two-year, $9 million contract with Chicago, according to a league source. The deal was first reported by Yahoo Sports.

While the Knicks did not enter this summer with prodigious cap space — about $20 million if they renounced the rights to each of their four free agents — they have watched from the sideline as free agency shakes out.

The Knicks did re-sign point guard Ron Baker to a two-year deal, bringing him back after he impressed the team with his defense and energy as an undrafted rookie.

Derrick Rose and Sasha Vujacic, the Knicks’ two other free agents, remain unsigned. The Knicks have probably been on the lookout for a point guard to join Frank Ntilikina, the eighth overall pick in the N.B.A. draft last month, but most of the top choices on the market have signed. Rose is coming off a knee operation — the fourth of his career — in April.

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