HOW ZACH's DEFERRED PAYMENTS WORK(from another source, not from me)********************************************************
I've compiled all the available data on Zach Randolph's contract and here's how ti works :

When Zach Randolph signed his extension to his rookie contract in Portland in 2004, both parties agreed that 30% of Zach's compensation would be deferred and deferred payments would be made from 2012 to 2017. Keep in mind it was an extension to his contract so even if he signed it in 2004, it kicked in when his rookie contract expired in 2005.
Zach Randolph was a Blazer from 2005 to 2007 so when the Blazers traded Randolph to NY in june 2007, they owed Zach $6.8M in deferred compensation.
Zach was a Knick last season so we owe him $4M in deferred compensation.
Zach Randolph still has 3 years remaining on his contract and $14.4M in deferred compensation.
The Knicks CANNOT pay that amount ($14.4M) to the Grizzlies.
If Zach Randolph is traded to the Grizzlies, they WILL have to pay that deferred amount because it's a FUTURE amount. Nonetheless teams can settle on previous accrued amounts.
For example, when Zach Randolph was traded to the Knicks, the Blazers owed him $6.8M, they could have asked the Knicks to pay a portion of that amount or even the full amount. It can be negotiated in trade talks. As the Blazers were more than happy to find a taker for Randolph and they already planned to waive Steve Francis I don't think they asked Isiah Thomas to pay Zach's deffered $6.8M but it's possible.
As it would be a loophole in the CBA, I was almost certain it wasn't possible for the Grizzlies to ask Donnie to pay Zach's remaining deferred compensation but to be sure I started a thread on the CBA Board and dunkenstein confirmed it.
Basically, Donnie can ask the Grizzlies to pay the deferred compensation the Knicks already owe to Zach Randolph, it can be negotiated but the Grizzlies can't ask us to pay Zach's 2008-2011 deferred compensation as it will be their responsability to assume Zach's contract from 2008 to 2011, including deferred compensation.