Marbury renews offer to give $1 M back in buyout deal

The Stephon Marbury Buyout Watch continues.

The banished Marbury told The Post yesterday his $1 million giveback is back on the table. Marbury said he’s waiting to hear back from Knicks president Donnie Walsh on his proposal.

Marbury, who is training in Los Angeles, says he has a firm offer from at least one club, allowing him to change his negotiating stance for the first time in seven weeks. The Celtics are the leading candidates to sign Marbury, according to a source.

Marbury had taken the $1 million giveback off the table during their stormy Dec. 1 meeting. Marbury put it back in play because at least one team has now made a commitment to him, allowing him to make the $1 million back.

Walsh last offered Marbury to take $3 million less. Marbury has been told by Knicks officials the matter is in owner James Dolan’s hands and he’s been awaiting word for several days.

Marbury also fears Dolan won’t accept his offer until after March 2, when he’d be no longer eligible for a playoff roster.

Let me get this straight — all this drama for a measly $2 million? I realize that this is a ton of money to normal people, but this is pocket change for James Dolan. Is $2 million worth the distraction of keeping Marbury on the roster? My guess is that the Knicks main problem with buying out Marbury is that they might be helping the Celtics in the process. But it’s not like the Knicks are a serious playoff contender — why not get rid of the headache?

As for Marbury, I don’t know why he hasn’t taken Dolan’s offer of a $3 million pay cut. He’s jeopardizing his ability to prove he’s worth a three- or four-year contract after this season. No one is going to sign him to a long-term deal if he doesn’t play (and play well) for the remainder of this season. Surely that’s worth $2 million to Starbury, right?

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