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The P&T guide to the most wonderful time of the year: 10-day contract season!

Related Topics: Elliot Williams

Christmas has passed, New Year's has passed, which leaves us free to focus on the most important holiday of all.

That's right, friends, it's 10-Day Contract Signing Day Eve! When the clock strikes midnight on Jan. 5, and basketball fans are snug in their beds, the 10-Day Contract Emu will visit the houses of every girl and boy and deliver a fresh D-Leaguer. Don't forget to leave him a insects and a gizzard stone to grind up his food, or he might leave you Ronnie Brewer!

So how do 10-days work? Any team with an open roster spot -- hey, the Knicks have an open roster spot -- can sign an unaffiliated player (NBA teams control the rights to certain D-League prospects) to a maximum of two 10-day deals.