The combinations would have to look like this, its the only solution if we keep Knight. I don't think a pass first backup is the answer unless he is a really good player. A three guard rotation is the key. If we can find a better option in that rotation than Knight (through draft, trade, or free agency) go for it.
Bledsoe pg, Booker sg
Bledsoe pg, Knight sg
Booker pg, Knight sg
Contrary to what most think, Knight still has very decent trade value in this league. He can score in bunches. He is incredibly fast. He is still young. And his contract will not look nearly as bad as salaries continue to rise. I know it sounds intelligent to call people who believe this deluded homers. But there were those who said we would have to give up assets to trade Kieff. The rest of us said he had value.