Hindsight is always 20/20. If we only knew things we now know in the past, what would we do differently? Over the past few years, the Dolan/Layden Knicks management made numerous blunders which have set the franchise back years...The damage is just starting to be undone. If you could go back in time and alter 1 event in recent Knicks history, what would it be, and how do you think things would work out from there?
Here's mine:

It's the start of the 2002-03 season. Layden shocked the NBA with the McDyess trade on draft day. Of course, he promptly blows out his knee after 3 preseason games. Sprewell shows up to training camp with a broken hand and has a very public feud with Dolan through the media.

Of course, we know the reality from there. In Spree's absence, the Knicks got off to a terrible start. Once he returned after the first dozen games or so, they basically were a .500 team, came within a couple games of the 8th seed with a week to go but could never really recover from the first few bad weeks. But what if...

Dolan and Sprewell continued sparring through the media, continually getting worse until the Knicks are forced to make a trade. With McDyess already done for the year and the team digging a huge hole in the standings, here is where I would intervene:

The Knicks decide to basically throw in the towel for 2002-03. Sprewell is traded to Minnesota for Terrell Brandon's contract (which will be an important asset later) The Knicks never fully recoverfrom their early season swoon, and continue to play well below .500 ball. By midseason, with the team hopelessly out of the playoff race, Allan Houston complaining of knee soreness has season ending surgery in January. With Houston and Sprewell gone, the team is at a talent deficit at every positionon the floor most nights and goes into full time tank mode. By the end of the year the lowly Knicks are playing in front of NJ Nets sized crowds at the Garden. they finish with a record of 22-60, tied with the also deliberetly tanking Cavs and Nuggets for the worst record in the NBA, and guaranteeing a top 4 pick in the draft.

Wanting a new identity before the draft, the team fires Don Cheaney immediatly and begins a coaching search. (My choices would be Silas, berfore he took the Cavs job, or SVG before Riley resigned as heat coach - Both were available before the draft)Layden sticks around for the draft but knows his days as Knick GM are numbered...

I won't go so far as to give the Knicks the top pick outright, but safely assuming a top 4 selection, they would end up with 1 of the following: Lebron, Carmelo, Darko, or Bosh (in that order, depending on which pick they had.- Any one of them, would start and contribute immediatly.) Layden it can be assumed would still take the two Euro Projects (Lampe and Vranes) with the two second round picks.
Since Sprewell was traded for TB contract, there is no KVH trade, and Mutombo, when released signs elsewhere rather than join what looks to be a rebuilding situation in NY. Thus, there is no need to buy out Knight (another expiring contract asset).

Here's where it gets a little tricky. With any of the top 4 draft choices in the starting lineup, the Knicks probably get off to a better start than they did in reality. Houston, because he had surgery earlier, had extra recovery time and comes back in better shape. But at some point, Dolan would bring Isiah in to run the team. Within 2 weeks of his hiring, Isiah makes the Marbury blockbuster as it happened in reality (or if you really wanted to make it a fantasy, lets say he didn't have to give up Lampe as some people on this board keep claiming). When Sheed is traded to Atlanta near the deadline and then promptly put on the block again, Isiah has the assets (expiring contracts of Brandon, Knight, and Doleac) to get a deal done.

The results - Final Starting Lineup 03-04:

PG Marbury Marbury Marbury Marbury
SG Houston Houston Houston Houston
SF James or Anthony or Wallace or Wallace
PF Wallace Wallace Milicic Bosh
C Thomas Thomas Thomas Thomas

Bench: Penny, FWill, Harrington, Norris, Trybanski (or Lampe), Vranes, Vin Baker and Demarr (assuming signed).

Depending on the draft choice and Houston's health, that team would be a force in the east and could be competitive at least with some teams in the west. It would have a good mix of youth and veterans, and it would be positioned well for the future.

The point is that the Knicks needn't have gone through a long and extensive rebulding process. Had they decided to give up on the 02-03 season early, they could have done a quick rebuild with a top draft pick and a couple of money trades. The Spurs were a good team, got real bad for one year when Admiral Robinson got hurt, and ended up with Tim Duncan. It could have been the same with the Knicks. Now we can only only look back at what could have been and propose trades or signings that are highly unlikely.

Yes,

I would've even been happy with Dwayne Wade....sigh.....

But we all know that they FEEL they can never tank a season here. Even when some of us would accept it.