Updated: Benjamin Hochman of the Denver Post has broken the story. A trade involving the Knicks and Minnesota Timberwolves has finally been completed.
It is a done deal in principle, with minor details to be worked out following a conference call with NBA offices tomorrow. Details are known, but minor parameters such as draft pick protections could be subject to change by then.
The Nuggets have traded Melo, Chauncey, Shelden Williams, Renaldo Balkman, and Anthony Carter to New York. They will receive Wilson Chandler, Danilo Gallinari, Raymond Felton, and Timofey Mozgoz in exchange plus draft picks. Of the included picks are New Yorks 2014 first rounder, which pending lottery protections could go to Houston in multiple scenarios, which means this pick could turn into the “first available” number one pick that New York can send out if not conveyed to Houston by 2014. Via New York, Denver also receives second round picks in 2012 and 2013 from the Golden State Warriors. The Nuggets also receive $3 million in cash considerations from the Knicks.
As part of the trade, the Knicks and Timberwolves exchange Eddy Curry and Anthony Randolph for Corey Brewer. Denver facilitates the transfer of Eddy Curry to Minnesota, allowing the Nuggets to shed some $17.7 million in salary. This is more than enough to bring them below the luxury tax threshold immediately.
The deal is done. Of note is the murky status of the 2014 first rounder Denver receives from New York, the details and protections of which will not be known until the trade is approved by league officials. Anthony Carter is also slated to be traded to the Knicks despite them having two point guards ahead of him – Chauncey Billups and Toney Douglas. Anthony Carter surrenders his bird rights due to being on a minimum one year salary and he can exercise veto power on any trade, similiar to Matt Geiger and Devean George in the past. If Carter indeed invokes his power to block a trade out of Denver, the deal will still be completed with minor changes. It’s likely Melvin Ely would be exchanged instead. For now, expect AC to go to New York.
It’s an incredibly sad ending to the second Chauncey Billups era in Denver. Thank you so much for your hard work, dedication, and loyalty Chauncey.
Reaction, analysis and more to come from your RMC staff as the dust settles. Share your thoughts and memories here.