This one deserves its own thread.
To understand the Knicks’ unbridled pursuit of Tracy McGrady, you have to view it through the prism of their unbridled pursuit of LeBron James. Acquiring one could serve as a prelude to signing the other.The Knicks are trying hard to pry McGrady from the Houston Rockets before Thursday’s trading deadline. Executives for the two teams continued to pursue it Monday, and, according to one person close to the talks, “They’ve made some progress.’’
The teams are certainly closer to a deal than they were a few days ago, but it is still far from a given that McGrady will make it to New York.
The Knicks want McGrady, in part to revive their playoff hopes this season. But James is also a big part of the thought process.
The Knicks need James to see them as a winner; McGrady could help. They need James to see how their young prospects, Danilo Gallinari and Wilson Chandler, play alongside a scoring, playmaking, ball-dominating star — which James is and McGrady once was.
This summer, when the Knicks try to woo James, they may need McGrady as a recruiter. If the 30-year-old McGrady can regain his old swagger, he may even make a great second fiddle – the multiskilled sidekick that James never had in Cleveland.
But most important, McGrady would provide options. The Knicks could let him walk away as a free agent, clearing $23 million from the payroll. They could try to re-sign him, for a fraction of that figure. Or, as the team that owns his “Bird rights,” they could use McGrady in a sign-and-trade deal to reload the roster.
Given the Knicks’ sorry record (19-32), there would be no drawbacks to renting and evaluating McGrady for the next two months — depending on what they have to give up to get him.
One proposal being considered, which was reported Monday by Yahoo Sports, shows just how complicated and risky the deal could be: the Knicks would send Jared Jeffries, Jordan Hill and either Al Harrington or Larry Hughes, along with draft picks, to Houston for McGrady, Joey Dorsey and Brian Cook.
That framework has been “kicked around,’’ according to one person involved in the talks. But two people working on the deal said it was doubtful this particular proposal would be consummated.
Still, the details are revealing. Under one iteration, the Rockets would receive the Knicks’ first-round draft pick in 2012, and the right to swap first-round picks in 2011. The picks would be an inducement for the Rockets to take on Jeffries, who is owed $6.9 million next season; he has a trade kicker that would cost Houston another $2 million.
Unloading Jeffries would get the Knicks closer to their dream: clearing enough cap room to sign two maximum players — say, James and Chris Bosh. But it would come at the cost of one high-level prospect (Hill) and potentially two high draft picks.
Herein is the gamble for both teams. If the Knicks land at least one superstar and become a playoff team, then the picks become marginal. If the Knicks fail to sign a marquee player and land back in the lottery, the Rockets could reap the rewards (depending on what kind of “protection” is placed on the picks).
So the Knicks would be banking on hitting the free-agent jackpot in July. And the Rockets would be banking on the Knicks going bust.
Several aspects of this proposal make it unlikely. Acquiring Jeffries and Hill – who will make a combined $9.6 million next season — would virtually wipe out Houston’s cap space this summer. With Yao Ming injured and McGrady gone, the Rockets need the flexibility to sign an impact free agent.
Giving up Hill and draft picks would stunt the Knicks’ youth movement. They can do it if they are assured of getting James, but that is far from a safe assumption.
These are the same issues that have held up a Knicks-McGrady deal for the last two months. Simply put, the Knicks have little to offer – and the assets that intrigue Houston the most (Gallinari, draft picks) are the ones that the Knicks can least afford to trade.
Nor can the Knicks overcommit to McGrady, because he is coming back from major knee surgery and may play only two months for them.
For their part, the Rockets are determined to get value for McGrady, and not just expiring contracts, like Harrington’s and Hughes’s. If they want cap relief, they can just keep McGrady and let his contract expire in July (or buy him out after the trading deadline). They are under no pressure to trade him.
Ultimately, the Knicks and the Rockets may still need a third team to make a deal. They have three days left to figure it all out.
2/16/2010 12:13 PM
