[1] During the off-season, the Knicks acquired Shandon Anderson from the Houston Rockets and Howard Eisley from the Dallas Mavericks in a three-team trade,[2][3] and signed free agent Clarence Weatherspoon.
[4][5] Entering the season, the Knicks were without Larry Johnson, who retired during training camp due to lingering injuries, ending his 10-year career in the NBA.
[8][9] Under Chaney, the Knicks suffered an 8-game losing streak in January and went 20–43 for the remainder of the season,[10] as Marcus Camby missed the final 39 games due to a hip injury.
[11][12] The Knicks lost six of their final seven games and finished in last place in the Atlantic Division with a 30–52 record.
[19][20] After the 2001–02 season, the Knicks' jersey was altered to incorporate the "NYK" subway token logo on the back.