The Knicks became the seventh D-League team to be owned by an NBA team and replaced the Erie BayHawks as the Knicks' D-League affiliate.
The Knicks had filed for trademarks for five possible names: New York 914s, New York 'Bockers, New York Plainsmen, New York Empire, and New York Hutch. On May 14, 2014, the Westchester Knicks name and logo were announced; in addition to retaining the parent club's "Knicks" name, the Knicks have also incorporated the original "Father Knickerbocker" logo (drawn by Willard Mullin) which was in use by the parent Knicks from the team's founding in 1946 until 1964.
On September 3, 2014 Westchester acquired 16 players on the 2014 NBA Development League Expansion Draft. On October 13 Kevin Whitted was named as the first coach of Westchester. On November 1, in the 2014 NBA D-League Draft, the Westchester Knicks made second-round guard Joseph Bertrand their first ever selection. On November 16 they made their regular season debut in an 84-91 loss against the local Oklahoma City Blue. Three days later they made their home debut, again losing, this time against the Canton Charge on an 84-88 affair. Their first win came on November 21 against the Grand Rapids Drive in their third game, which they won by 97-83 at home.
On January 7, 2015, Langston Galloway signed a 10-day contract with the New York Knicks, becoming the first player to be called up to the NBA in franchise history.
On March 30, 2015, the Knicks announced via Twitter that head coach Kevin Whitted was relieved of his duties and that assistant coach Craig Hodges would serve as the interim head coach for the final week of the 2014-15 season.  The Knicks were 10-36 at the time for Whitted's firing, which was second worst in the Development League. Whitted became the first head coach to be fired in franchise history.