Well, the Stephon Marbury saga is over, at least in New York.

Marbury is now eligible to play in the playoffs for another team because his release from New York comes before the league’s Sunday deadline.

With Marbury expected to sign for a pro-rated share of the league’s veteran minimum, Boston’s financial risk is minimal if the experiment doesn’t work and the Celtics decided to subsequently cut Marbury.

It’s believed that Marbury will be forfeiting in excess of $2 million from his $20.8 million salary this season, which would net the Knicks twice that much because of the luxury-tax savings involved.

The conventional wisdom here is that he’ll soon sign with the Celtics, who have been trying to shore up their bench all season after losing James Posey to free agency and P.J. Brown to retirement last summer.

I’m happy that Marbury and the Knicks have been able to part ways. If he does sign with Boston, it will be interesting to see how he fits in with the defending champs.

Knicks head coach Mike D’Antoni will miss practice to testify about his interaction with Stephon Marbury earlier this season when the guard allegedly refused to play in a game against the Pistons.

They’ll be back in each others’ faces Tuesday, and the hearing will force coach Mike D’Antoni to miss practice while he testifies before grievance arbitrator Calvin Sharpe, a Case Western Reserve University law professor, to recount exactly what was said on that November day at a suburban Detroit hotel when D’Antoni purportedly told Marbury he wanted him in the lineup that night and was prepared to give him regular playing time going forward.

Marbury has said his response was something along the lines of “I thought y’all were going in a different direction,” and he has maintained that he was careful not to say anything that could be construed as a refusal because that would technically put him in violation — if not breach — of his contract.

Marbury asked for an expedited grievance hearing, and the hearing will convene at 10 a.m. with Marbury, Walsh, D’Antoni and a handful of lawyers in attendance.

“I’ll have to [say] what happened, the way I saw things,” said D’Antoni, who also appeared less than thrilled at the prospect of spending several hours in a law office conference room sitting across the table from the one person who has managed to keep himself a sideshow and a distraction throughout this season.

The Knicks hold all the cards here, and unlike most NBA franchises, they are used to the media circus. I’d say two teams could handle having Marbury sidelined the entire season — the Knicks and the Lakers. With Marbury only offering $1 million in unpaid salary to secure his release, there isn’t much incentive for the Knicks to let him go. The Knicks are just 2 1/2 games out of the 8th spot in the East, and could very well face the Celtics in the first round in the playoffs. They’d gladly pay $1 million so that he can’t come back to bite them in the playoffs.

I don’t understand why Marbury didn’t take the Knicks $3 million offer. He needs to get his career back on track and he’s not going to be able to do that as long as he’s with the Knicks.

Stephon Marbury and the New York Post say “yes,” but a Boston Herald source says “no.”

According to sources, the Celtics have had talks with Marbury (the Knicks gave him permission to speak with other teams in hope that it would hasten his desire for a buyout), but one source close to the situation said yesterday the club has made no firm commitment to him on a deal.

For his part, Marbury doesn’t understand the Knicks unwillingness to reach a buyout agreement.

“The question to be asked to the Knicks is: Are they fearful for me playing for another Eastern Conference team? My thing is, they shouldn’t be fearful,” Marbury was quoted as saying. “They’re trying to get under the cap for 2010. They shouldn’t be worried about me. You had guys saying I was a distraction, I’m a cancer. If I’m all those things, wouldn’t you want me to go to another team?

“It shouldn’t matter that I go to Boston if you’re the eighth seed and Boston is in the front. It can’t be about money. The Knicks got plenty of it. It’s got to be personal. If it’s personal, then how is business being done there?”

What Marbury is glossing over, however, is that the Knicks did make a buyout offer ($3 million less than his total salary), but it just wasn’t enough money for Marbury.

So, really, who’s being unreasonable?

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?