NBA

One down — Amar’e OKs Knicks deal

One down, two to go.

The first block of a potential Knicks’ Dream Team was placed yesterday as All-Star power forward Amar’e Stoudemire announced he had agreed to terms with the Knicks. Stoudemire will get a five-year, $99.7 million deal that likely won’t be insurable because of past knee surgery.

“Oh yeah, the Knicks are back,” Stoudemire crowed.

The only way they’re really back as far as being a championship-level team is if LeBron James follows suit this week and Carmelo Anthony signs on as a 2011 free agent. Then we are talking about a three-headed Knicks monster that could create a dynasty only the Yankees could appreciate.

But the “Dream Team” may be that — only a dream. The Cavaliers are emerging as favorites, according to a person around LeBron. James is expected to make his decision this week in Akron, Ohio, where he’s holding his Nike skills camp.

But the Knicks feel they aren’t out of it until they are out of it, and are assured from LeBron’s camp the Stoudemire signing is an asset, not a hindrance. James campaigned to have the Cavs trade for Stoudemire at February’s deadline.

Team president Donnie Walsh said he has a standing invitation to James for the King to visit New York.

Stoudemire said he’ll be on the horn with James and Dwyane Wade. Saturday night, he said he would be recruiting Anthony and Tony Parker, too, but they are under contract till next summer. Stoudemire, another couple of pieces such as Raymond Felton and Mike Miller, and Anthony next year wouldn’t be shabby.

Stoudemire has spoken with people in James’ inner circle. “It’s a situation no one wanted to make the first move,” Stoudemire, wearing a Knicks cap, said after touring the Garden. “I felt confident enough to make that first step. Hopefully, I can get guys to join me. I’ve talked to [James’] guys. I’m definitely going to reach out to him again and see if we can get him to come if he wants.

“I think he knows how great a city it is,” Stoudemire added. “I think he knows how great the fans are.

“I really have no reading on which way he is leaning at all, but again, he’s totally open right now, he hasn’t made a decision yet, and hopefully I can get him to choose us.”

King James bounded onto the University of Akron campus yesterday with a Yankees cap and staged a workout while his camp for elite high school players commenced. Was it a sign he’s in an Empire State of Mind? Probably not, but indications are the LeBron camp was impressed by Stoudemire’s signing.

Stoudemire cannot sign until Thursday, and Knicks officials could not directly say Stoudemire had agreed to a deal. But coach Mike D’Antoni said, “If someone wants a very good player to play with in New York, we might have one. This could help tip the dominos falling. He’d be a great teammate for somebody. If you’re serious about winning, we’ve got a piece that will help you do that.”

Walsh added, “We’re in a better position. It’s a first step. It’s a big step because it’s a big guy.”

The agreement is expected to end David Lee’s five-year run, though Walsh would not rule Lee’s return. However, the Knicks have been besieged by calls from teams looking to do a sign-and-trade, including Golden State, with Walsh interested in Monta Ellis. “We have interest in [a sign-and-trade],” Walsh said.

The Knicks got back in the discussion with James’ camp, promoting the idea they could really attain Anthony in 2011 if he does not sign a three-year, $60 million contract extension.

Though the Knicks had said during Thursday’s presentation they could add two max free agent this year and Anthony next year, James’ agent, Leon Rose, was skeptical. Rose called the Knicks and Walsh dispatched senior VP Glen Grunwald and MSG president Scott O’Neil back to Cleveland to break it down and they met at the downtown Ritz Carlton on Saturday morning, without Carter and James.

They showed how they can get $15 million under with the expiration of Eddy Curry’s deal, trading Wilson Chandler ($3 million) and allowing Bill Walker’s contract to expire. The Nuggets said yesterday they won’t trade Anthony this season.

“This is New York,” Stoudemire said. “The marketing opportunities are uncanny. I also want to help build the franchise back up and feel great about being a pioneer.”

marc.berman@nypost.com