Jose Calderon, Shane Larkin

Tyson Chandler and Raymond Felton Traded to Dallas

Updated – 5:42PM

Well, here it is folks!

The Knicks are to receive:

  • Jose Calderon
  • Samuel Dalembert
  • Shane Larkin
  • 34th and 51st pick in this year’s draft
  • Wayne Ellington

In exchange for:

  • Tyson Chandler
  • Raymond Felton

Why is this such a noteworthy trade, if it happens? Well, for one, the Knicks will clear up about $5 million in cap space this season. Also, Samuel Dalembert only has $1.8 million guaranteed for this coming season. What does that mean? They can waive him, pay him the $1.8 million, and get an additional $2 million in cap space for this season.

Now, we all know about Shake Larkin and he’s still a work in progress. Wayne Ellington is also a rumored name, but he has an expiring contract after this coming season.

So, at the expense of losing a formidable defender in the paint in Chandler and a lazy player with a bloated contract in Felton, the Knicks get a player perfect for the triangle in Calderon and a prospect to train in Larkin.

Well done, Phil.