HANG TIME HEADQUARTERS -- The trade is done. Tracy McGrady is heading to New York.
Here's the deal, per TNT analyst David Aldridge: McGrady, acquired Wednesday by Sacramento, goes to New York along with guard Sergio Rodriguez. The Knicks send guard Larry Hughes, forward Jared Jeffries and forward Jordan Hill to the Rockets, along with a 2012 first-round pick. The Rockets can also swap first-rounders with New York in 2011. The Rockets send forwards Carl Landry and Joey Dorsey to Sacramento, and get Kevin Martin from the Kings.
The trade saves New York $2.5 million in cap space--the amount of first-year money for Hill, the eighth pick overall in last year's draft. More importantly, by putting Jeffries, who has one year remaining on his contract at $6.8 million next season, in the deal, the Knicks will clear enough cap room to be able to make offers to two max-level free agents this summer, allowing them to go after, say, both LeBron James and Dwyane Wade, or Wade and Chris Bosh, or James and Joe Johnson.
New York only has four players under contract for next season: forwards Danilo Gallinari and Wilson Chandler, guard Toney Douglas and center Eddy Curry, whom the Knicks were unable to deal.
The trade was first reported by ESPN.com.
Also, a league source says the Washington Wizards are not involved in supposed three-way discussions with Miami and Utah that centered on forward Carlos Boozer. The report claimed that the Wizards would send swingman Mike Miller to the Jazz as part of a deal that would also involve guard Kyle Korver and Miami guard Mario Chalmers, along with a first-round pick. But the talks seem to be that--just talk. The Wizards would only be interested in trading veteran guard Mike James in any deal after moving Caron Butler,
Brendan Haywood and Antawn Jamison in deals over the last week.
