Vildoza played this past season for Baskonia of Spain's ACB League.
The final three years of the contract will be non-guaranteed, reports Ian Begley of SNY. That will allow the Knicks to evaluate the ball-handler at several points before next season - including during the Summer Olympics - before fully guaranteeing the remainder of the deal, according to Wojnarowski.
Vildoza is considered one of the best point guards playing in Europe and was expected to garner significant interest as a free agent this summer, Wojnarowski notes.
Baskonia agreed to a buyout with Vildoza to allow the 6-foot-3 playmaker to join New York. It's unclear if he'll be able to play for the Knicks this season due to immigration processes, physicals, and other protocols, according to Wojnarowski.
Vildoza, 25-year-old helped Baskonia win the 2020 ACB League title and was named Finals MVP after scoring a team-high 17 points in the championship game against Barcelona. Denver Nuggets guard Facundo Campazzo won the same award the year prior.
Vildoza was a member of Argentina's national squad at the 2019 FIBA Basketball World Cup. The team lost to Spain in the final.