The New York Knicks have acquired Tracy McGrady and his massive expiring contract in a three-way dance with the Houston Rockets and the Sacramento Kings.
The Knicks will also get Sergio Rodriguez from the Kings, though the hook of the deal was McGrady and his expiring $23 million contract.
The Rockets will get guard Kevin Martin and forward Hilton Armstrong from Sacramento and forward Jordan Hill, Jared Jeffries and draft considerations in 2011 and 2012 from New York.
They're also relieved to have finally found a taker for McGrady, the troublesome seven-time All-Star they've been trying to shop for almost two months.
The Kings will also get New York guard Larry Hughes and Houston forwards Carl Landry and Joey Dorsey. The draft considerations Houston gets will have the right to swap first-round picks with the Knicks in 2011 as well as take on New York's 2012 first-round pick.
Got all that...???
Here are the numbers:
New York Knicks
Rodriguez: $1.5M- expiring/McGrady: $22.8M- expiring...
Total dollars exchanged: $24.3M, currently $30M under the salary cap
Houston Rockets
Martin: $9.6M- 4 years remaining/Armstrong: $2.8M- expiring/Hill: $2.4M- two years remaining/Jeffries: $6.4M- two years remaining
Total dollars exchanged: $21.2M, currently $26M under the salary cap
Sacramento Kings
Hughes: $13.6M- expiring/Landry:$3M- expiring /Dorsey:$881K- three years remaining
Total dollars exchanged: $17.481M, currently $1.4M over the cap...
1 comment:
Every move the Knicks make prior to Free Agency is intended to attract Lebron James and other top players. Tracy has been injury-plagued, and this move will probably not improve the team much in the short-term.
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