Knicks Acquire McGrady From Rockets
The Knicks accomplished stage one of their salary dumping process on Thursday, opening the space for two max contracts after the season when they traded for Houston’s Tracy McGrady and his $22 million expiring contract.
They reached a three-team deal with the Kings and the Rockets in the early afternoon Thursday, right before the NBA’s trade deadline expired at 3 p.m.
The Rockets get Martin and Hilton Armstrong (Kings), Jared Jeffries and rookie Jordan Hill (Knicks), the ability to swap first round draft picks with the Knicks in 2011 (top-10 protected), and the Knicks’ first round pick in 2012; the Kings get Carl Landry and Joey Dorsey (Houston), and Larry Hughes’ $13 million expiring contract (Knicks); the Knicks get McGrady (Rockets) and Sergio Rodriguez (Kings).
McGrady’s biggest value for the Knicks is that of freeing up cap space next year. When McGrady’s contract expires, they’ll have enough room on their roster to sign a player like LeBron James, and pair him with legitimate talent.
While the Knicks shave $9.5 million from their cap figure for next year…if they don’t end up getting ‘Bron, Bosh, or Wade, they may end up overpaying for second-rate stars, and could be stuck with a long few years ahead.
