On the surface it seems to make perfect sense. The Knicks need a small forward. The Bulls need a veteran big man. The Knicks have a spare big man in Antonio Davis. The Bulls have a spare small forward in Tim Thomas.

Davis makes $13 million. Thomas makes $14 million. Close enough to make it legal under salary cap rules. And each guy is in the last year of his contract.

So why doesn't Bulls GM John Paxson get on the phone with Knicks GM Isiah Thomas?

"Hello, Isiah ... John Paxson here. Umm, remember that big Eddy Curry blockbuster we made a few months ago. ... What do you say we pretend like Davis and Thomas were never included?"

"Pax, my man, I was just thinking the same thing. We'll call it an early Christmas present to each other.... By the way, how come you didn't tell me that Curry was allergic to rebounding?"

Jokes aside, we know that such a deal is illegal. According to an NBA spokesman, teams are prohibited from reacquiring any traded player for the remainder of that season.

But there is a loophole ...

What if the Bulls were to release Thomas, and by sheer coincidence (ahem), the Knicks were to release Davis at the same time? Then the two teams could re-sign their former players for the minimum, an additional $1 million roughly.

It would be perfectly legal, according to the NBA.

The problem for the Bulls and Knicks is that by waiving those players they would give up those big expiring contracts. For example the Bulls would no longer have Thomas' $14 million deal to use as a trade conduit later this season. They would only have Davis' new $1.1 million deal.

In other words the Bulls would probably rather have Thomas collect dust now and be able to use the larger value of the contract than to have Davis help them win a few more games this season.

But if the two clubs were to decide the deal makes too much sense to ignore, they could get a deal done via this scenario. Obviously, Davis and Thomas would have to clear waivers first. But it is highly doubtful any team would be willing to pick up the remainder of the $13 million Davis is owed or the $14 million Thomas has coming his way.

"That would be no problem," said one league source, "For one thing, nobody's got the cap room to do it."

Otherwise, the only hurdle for the Bulls and Knicks would be a 30-day waiting period. Last year there was some grumbling when the Celtics re-signed Gary Payton two weeks after trading him to the Hawks in the Antoine Walker deal. As a result the new CBA contains a provision (aka the Gary Payton Rule) that requires a 30-day waiting period before teams can claim their old player off waivers or sign him to a new deal.

So Paxson and Isiah could probably make this happen, and all it would cost them would be an additional $1 million and enough patience to wait 30 days.

Of course, this assumes that the Bulls and Knicks really would want their old players back.

From the Bulls' side, it would be a no-brainer. Chicago didn't want to give up Davis in the first place. The 6-foot-10 veteran was a locker room leader and glue-guy for the Bulls. He was only included in the deal to make the salaries match up.

Thomas, meanwhile, doesn't fit in Chicago's plans at all. The Bulls already have Luol Deng and Andres Nocioni at small forward, both of whom are better fits in coach Scott Skiles' defensive scheme. That's why Paxson recently told Thomas to stay at home and not bother showing up for work.

For the Knicks, it's a much tougher call. New York coach Larry Brown sure sounds like he wouldn't mind having Thomas back. "He'd be playing a lot of minutes here," Brown said two weeks ago. "We made the deal knowing we were giving up two starters. Everybody though he'd start here. I thought he and [Michael] Sweetney [would be starters]."

But Brown is also the guy who, as Sixers coach and de facto GM back in 1999, traded Thomas to Milwaukee for Tyrone Hill.

Does he really like Thomas that much more now that he would give up Davis? Even with the emergence of rookie Channing Frye, Davis is a big body with a lot of experience in the trenches. It's hard to see the Knicks giving that up even if they could use more scoring from the small forward spot.

That's why the Knicks and Bulls are likely to stand pat and use those big contracts to sniff around for better offers. For example, the Blazers might be willing to give up Ruben Patterson and some other pieces for Davis' expiring contract. Patterson is more Brown's type of player, and it would have the added benefit of keeping Davis away from a conference rival in Chicago.

The Bulls, meanwhile, could hang on to Thomas and use the contract to make a trade later for a high-priced player. Or they could use the cap space after the season to make a run at a free agent like Al Harrington, Ben Wallace or Joel Przybilla.

That's why we're not likely to see a Davis-for-Thomas switcharoo this season. Even though it would arguably help both teams on the court.

Pull the trigger on that deal already!

could survive 30 days without TT or AD?