Tyson Chandler is heading back to the Mavericks.
In return, the New York Knicks will receive point guards Jose Calderon and Shane Larkin, center Samuel Dalembert, and shooting guard Wayne Ellington in addition to the 34th pick in this week's NBA draft.
The Knicks, who are without a first round draft choice, value the pick at the beginning of round two, and also Larkin, who was the 18th pick in last year's draft.
Breaking Down the Deal
Because the league year begins on July 10, each of the number of years remaining still includes the season that just ended, so even more value is in this for the Knicks when that is taken into account.
The Knicks save $3 million of the top, and then the expiring deals of Dalembert and Ellington giv them an additional $6.3 million in cap space.
Add that to a useful veteran point guard in Calderon who is very efficient and relatively inexpensive, and quality young assets in Larkin and the draft pick, and the Knicks rebuilding has started.
Also, New York is attempting to keep costs down, looking to next summer when the free agent class is expected to be excellent.
The Dallas Mavericks have a good deal of financial flexibility this summer and are reportedly in the Carmelo Anthony sweepstakes, and adding Chandler may be an attractive upgrade for the Mavs.
Not a surprise at all
The news that Tyson Chandler is on the move shouldn't come as a surprise.
The 2012 NBA defensive player of the year has been outspoken all spring and summer about wanting to play for a contender.
The 31-year-old is entering his 14th season in the NBA and after winning a title with Dallas in 2011, and an Olympic gold medal the following season, Chandler knows that he wants to win, and that his window is potentially closing.
In addition to the defensive player of the year award, Chandler player in his only all-star game while he was with the Knicks.