New York Knicks point guard Raymond Felton reached a plea deal on Monday and will avoid serving any jail time for gun charges.

According to ESPN, under the agreement, Felton will avoid jail time, but have to plead guilty to at least one of the gun charges. He must also complete 500 hours of community service, pay a $5,000 fine, register as a gun offender and waive his right to appeal the case.

"I just want to say that I want to thank the DA for being fair to me in this whole situation," Felton said after court. "I want to thank all my friends, my family especially, my fans, everybody just for supporting me and understanding the person I am."

Back on Feb. 25, the 29-year-old was arrested when he turned himself in after a game against the Dallas Mavericks. He was then questioned by police and booked on three counts of criminal possession of a weapon.

The arrest came after his estranged wife, Ariane Raymondo-Felton, went to the cops with his gun. She and Felton had a brief marriage before she filed for divorce.

The Knicks signed the NBA veteran to a contract in 2012 after guard Jeremy Lin was dealt to the Houston Rockets. Felton averaged 9.7 points per game and 5.6 assists this past season, Basketball-Reference.com noted.

New York City is known for having some of the toughest gun laws in the country and had Felton been convicted, he would have potentially faced seven years behind bars.