NBA Trade Deadline

*Knicks aquire Tracy McGrady. Scroll down for more.*

Donnie Walsh is looking to shake up this current Knicks roster, but more importantly, indirectly affecting the offseason situation.

Let's recap yesterday's events:

The Knicks traded guard Nate Robinson to Boston for guards Eddie House, J.R. Giddens, and a 2nd round draft pick. This trade is yet to be announced.

Hours later, the Knicks acquired forward Brian Cardinal for the T-Wolves for outcast center Darko Milicic. This deal is official, and Cardinal is likely to be waived to create roster space for upcoming trades.

The Knicks have been in constant talks with Houston revolving around guard Tracy McGrady. Late Wednesday night, talks stalled mainly due to disputes over the protection of Houston's incoming picks, and Houston switched their attention over to Sacramento to now pursue the player they've coveted the most, guard Kevin Martin.

Early Thursday morning, a deal was agreed to in principal sending McGrady, forwards Carl Landry and Joey Dorsey to Sacramento for Martin, forwards Kenny Thomas and Hilton Armstrong, and guard Sergio Rodriguez. There is still a possibility that the Knicks can join in this deal to make it a three-team trade and acquire McGrady, which will cause the swap to most likely go down to the wire and require most of the time allowed to complete (about three more hours).

Talks arose early Thursday morning that the Knicks were interested in Chicago forward Tyrus Thomas and sending forward Al Harrington to the Bulls in return. But hours later, talks fizzled and this particular trade is now seen as "a long shot now" according to league sources cited by Yahoo! Sports.

*Adrian Wojnarowski of Yahoo! Sports reports that a deal has been agreed to between the Bulls and Bobcats sending Flip Murray, Acie Law, and a future first round pick to Chicago for Thomas.

The McGrady trade is leaving me confused as to what the Rockets' interests really are. A deal with the Knicks was reportedly in place, with the only haggling point being the protection of the picks. I couldn't imagine this being the deal-breaker for Houston; something else had to have been up in the air.

As for the trade that has gone down with Sacramento, I'm still in confusion. Kevin Martin is a very good basketball player, potentially an all-star; but the man is fragile. The oft-injured Martin has averaged to miss over 20 games each season of his career which is in its sixth season. He has four years remaining on his contract at a steep price for any budget, and will likely handcuff the Rockets for years. But I'm not the one running the team.

This deal will get done, as it helps Walsh's beloved 2010 plan far too much for him to pass up. The Knicks have been dealing with the Rockets, who wanted zero protection on both incoming picks. But as of right now, Tracy McGrady is property of the Kings, who may have different interests than Houston-meaning the deal with Sacramento may be less dependent on the picks. Just an opinion from the outside.

• UPDATE: 12:44 P.M: The Nate Robinson deal has been tentatively agreed to, sending Nate Robinson and a second player to Boston for Eddie House, J.R. Giddens, and Bill Walker. The second Knick involved is not immediately clear, according to ESPN's Chris Sheridan.

• UPDATE: 12:58 P.M: The Kings are asking for David Lee from the Knicks in order to take on the steep price of Jared Jeffries, Yahoo! Sports reports. Personal opinion: if Walsh wants to sign 2 max contracts, there will be no cap space left to re-sign Lee this offseason. So if, and only if, it is necessary, a trade involving Lee is tolerable.

• UPDATE: 1:05 P.M: ESPN's Chris Broussard reports that even if no deal is agreed upon to send McGrady to New York, he will likely be bought out and signed by the Knicks.

• UPDATE: 1:15 P.M: According to Marc Stein of ESPN, a deal has been agreed to by the Kings, Knicks, and Rockets, sending McGrady and point guard Sergio Rodriguez to the Knicks, Kevin Martin, forward Jared Jeffries, the Knicks 2012 first round pick, and the right the swap first round picks in 2011 all go to Houston, and Kings receive forwards Joey Dorsey and Carl Landry, and guard Larry Hughes.

McGrady to Knicks deal:

New York Receives:

• Point Guard Sergio Rodriguez (from SAC)
• Shooting Guard Tracy McGrady (from HOU)

Houston Recieves:

• Shooting Guard Kevin Martin (from SAC)
• Forward/Center Hilton Armstrong (from SAC)
• Forward Jared Jeffries (from NYK)
• Forward Jordan Hill (from NYK)
• The right to swap 2011 first round draft picks with New York in 2011
• New York 2012 first round draft pick

*According to ESPN's Chad Ford, the 2011 pick is Top-1 protected (Knicks keep if they have the first overall pick), and the 2012 pick is Top-5 protected (Knicks keep if the pick is 1st-5th overall).

Sacramento Recieves:

• Forward Carl Landry (from HOU)
• Forward/Center Joey Dorsey (from HOU)
• Guard Larry Hughes (from NYK)

The shedding of Jeffries and Hill means that the only players that the Knicks have under contract past this offseason are Eddy Curry, Danilo Gallinari, Toney Douglas, and Wilson Chandler. Assuming all Bird Rights and Qualifying Offers are waived on June 30th, the Knicks will have approximately $32 million in cap space this summer, which will be enough to afford two maximum contracts this offseason.

The Nate Robinson deal is also finished. Robinson and G Marcus Landry to Boston for guardsEddie House, J.R. Giddens, and Bill Walker. No picks involved.

• UPDATE: 2:37 P.M: Maybe not completely finished: F Shelden Williams may replace Bill Walker in the deal, according to Newsday's Alan Hahn.

• UPDATE: 3:23 P.M: The Robinson deal is official, and includes Walker, not Williams, according to Hahn.