Finger point to BAC, which has a cool new show in the works.

First off, click on the video player to hear Will Leitch’s reaction to the deadline.

Secondly, as I kid I was always a huge fan of seeing new players in a Knick uniform. Whether it was Larry Johnson, or a mid-year move that brought in Othella Harrington for Erick Strickland, it’s always been really cool. Obviously, there were deals I hated, almost to say, “why did this just happen?”- but even if a player didn’t pan out, it’s a new player in the uniform. I couldn’t stand a deal like Weatherspoon for Moochie Norris, but it was really a “whatever” move at that point.

So I’m psyched for tomorrow.

Can the Knicks compete for the rest of this year? Who knows, it will depend on McGrady and if Eddie House can hit shots. It will depend on just how big an upgrade Sergio Rodriguez is over Chris Duhon. I know point guards, and I’m not sold yet on S-Rod.

I hope I’m wrong.

One thing is for sure, this team is going to run, which may hurt Danilo Gallinari who is pacing himself through his first full season.

Good or bad, they’ll run, and expect games to be back in the 120s.

Now, Yahoo Sports were the stars of the deadline, but not sure I quite get the conviction. As we all know, no one really knows.

Understand this, the move was for Lebron, yes, but more importantly it’s for Lebron’s next 10 years. And it gives the team the ability to start from scratch.

From zero, almost literally.

And if Lebron decides to stay, the team has the flexibility to vastly improve, and that’s all you can ask for if you are a Knick fans.

Understand this too. As Andrew Smith and I were saying before reports were talking about Arn Tellem, the agent was a major factor in this decision.

Almost as if he walked into Geoff Petrie’s office and said, “I’ll remember this when Tyreke is a free agent.”

Oh, and Tellem also represents Joe Johnson.

I would have liked to see the Knicks get a pick for Nate, but it’s not the end of the world. Just like it isn’t now if Lebron decides to stay. Walsh has given the organization EVERY opportunity now to lure the big fish to MSG.

But the safety net is being flexible.

Walsh is essentially putting a “NOW HIRING” sign starting July 1st without limitations.Yes, giving up Jordan Hill and a future pick is a lot, but if everything works out it’s a ridiculous win. On the other hand, we are all Knick fans and we know the other end of it too.

It’s risky, but let’s face it, it had to be done.

Update 2:28-

High level source confirms Hill is in the deal the picks have level of protection and NO pick in return for Nate. Boston held firm knew that Nate and the Knicks were separated. It’s Nate and Marcus Landry for House, Giddens and Walker. No real info but Harrington is still in play…not sure if Walsh is done.

1:19- McGrady to the Knicks is done says Marc Stein…

“…T-Mac and Sergio Rodriguez to NYK; Kev Martin/Jared Jeffries/swap of 2011 first with Knicks and 2012 first from Knicks to Houston AND Kings get Carl Landry, Joey Dorsey and Larry Hughes‘ expiring contract . . . all just filed to ESPN.com. Link coming momentarily…Sources say Houston gets Kevin Martin, Jared Jeffries, right to swap first-round picks with NYK in 2011 and New York’s first-rounder in 2012

11:45- Nate- “This is a sad day for me as well but I have tears of joy I accomplished something no one has done, 3X slam dunk champion! Thanks to my fans…Love yall for the support over the years, since my rookie year my fans have made it EZ 4 me to LOVE NYC the best place on earth word aapp…”

RicBucher-Sources say Cha is likeliest destination for Bulls’ Ty Thomas right now, in exchange for expiring contracts. Flip Murray/Acie Law works.

10:51

Tellem also represents Gallo, he knows the Knicks need cap space. No official deal has been made in terms of Martin-Houston as we speak.

10:30

great point by Woj…Best chance T-Mac to Knicks happens? Pressure power agent Arn Tellem can/will put on Sac, sources say. He reps Tyreke, plus more on team..

9:00 am

After about 3 hours of sleep it’s time to get back after it.

The latest has the Celtics now possibly being involved..

“…Mcgrady deal could indirectly be linked to knicks-celtics deal. A player from kings could be headed to boston…”

At 4pm yesterday it appeared, from what I was told, that the Knicks had worked out the particulars to move Nate, and the team would receive a first round pick in return. With the deal now expanding that may have changed, but we shall see.

It’s going to be crazy from now until 3…and make no mistake, this is huge deal for this franchise any way you slice it.

“…Multiple sources told ESPN.com that the Rockets and Kings will spend Thursday trying to make this a three-way deal that lands McGrady with the New York Knicks, who have been McGrady’s preferred destination ever since he and the Rockets mutually agreed in late December to find the 30-year-old a new team via trade.

“I think it will happen,” one source close to the situation told ESPN.com of McGrady winding up with the Knicks…

…Sources told ESPN The Magazine’s Ric Bucher that McGrady and Rodriguez would be sent to the Knicks in a three-team scenario sure to feature New York’s Jared Jeffries if it comes to fruition…”

Deal is agreed upon, via Yahoo, in principle…stay tuned.

“…If T-Mac gets buy out with Kings, he privately hopes to sign with Lakers or Cavaliers for the playoffs, source close to him tells Y!

Tommy Dee says…So the Rockets want to take back Kevin Martin, who may have the WORST contract in the NBA seeing that he’s never played a full NBA season. And in return for getting zero toughness, they want to deal Carl Landry and Joey Dorsey to get back Hilton Armstrong?

Fishy, in my opinion. We’ll see.

UPDATE- DEAL NOT DONE…

Via ESPN:

“…It remains possible that the deal could be expanded into a three-way deal that lands McGrady with the New York Knicks before Thursday’s 3 p.m. trading deadline, after intense talks this month between the teams.

One source close to the situation confirmed to ESPN.com that landing McGrady with the Knicks before Thursday’s 3 p.m. trading deadline is the goal, but the Rockets and Kings have a deal in the event that terms can’t be reached that include New York…”

Woj”…This blockbuster can still turn into a three-way deal with New York, but much work to be done before 3 p.m. EST deadline, sources say…”

Via Ric Bucher

If Sac and Hou can pull Knicks into 3-team deal, Sergio Rodriguez + TMac would go to NY, a source says. Told Sac-Hou two-way deal not done.

Via Yahoo-

“…Two league sources tell Y! Sports that Kings are unsure whether they will keep T-Mac, or move him onto Knicks in a deal before deadline.

Via Yahoo-

…Sources: Houston has traded T-Mac to Kings for multi-player package including Kevin Martin: http://tinyurl.com/y85ezbc…

Houston gave up on Knicks deal tonight, and decided to make T-Mac deal for player it most coveted: Sacramento’s Kevin Martin…

Sacramento management told Paul Westphal to pull Kevin Martin in the second half of loss to Warriors, once agreement was within reach.

Components of deal: Tracy McGrady, Carl Laundry and Joey Dorsey for Kevin Martin, Kenny Thomas, Hilton Armstrong and Sergio Rodriguez…

The players in Houston-Kings deal: T-Mac, Carl Landry and Joey Dorsey for Kevin Martin, Kenny Thomas, Hilton Armstrong and Sergio Rodriguez…”

Trying to confirm…

“…John Salmons not with the Bulls tonight and not part of McGrady deal…”

And Walsh is comfortably in his seat…Also, Nate has cleaned out his locker, from what I hear, and the rumor deal of JR Giddens and House reported on MSG isn’t confirmed. Again, first rounder will be coming Knicks way from what I understand from multiple sources.

Chad Ford is reporting a Darko for Brian Cardinal deal has been agreed upon in principal.This frees up money for the Knicks, and it’s the only way I can describe it other than it opens up another roster spot for the Knicks to make a bigger move.

Also, it appears the Cavs have worked a 3-way deal that gets them Antwan Jamison.

The Washington Post, amongst others are reporting:

“…The trade has also been confirmed by sources that spoke to Brian Windhorst of the Beacon-Journal and Adrian Wojnarowski of Yahoo!

The Wizards will receive Zydrunas Ilgauskas, Al Thornton, Brian Skinner and a 1st round pick, according to the source.

The Clippers are also involved and will receive Drew Gooden.

Along with Jamison, Cleveland will receive Sebastian Telfair….”

The Yahoo report says the Clippers will only receive Drew Gooden…that doesn’t add up. If this is true there should be grievance…or the Clippers should fold.

Alsoo KC Johnson of the Chicago Tribune, is reporting:

“…Bulls management has told Salmons to remain at team hotel as it works to finalize a trade. Won’t play vs. Knicks…”

This is the most significant rumor, seeing that the Bulls have been part of discussions with the Rockets for McGrady, amongst other deals.

Again, if there is a pick to be gained somewhere, Boston most likely, this will soften the blow of Houston’s demands. It’s easy to see that the McGrady deal is the more important one, but the focus is on Nate for that reason. That’s what I’m gathering.

If this report is accurate, Walsh is tip-toeing a fine line in terms of paying a premium…

“…The Knicks and Rockets spoke this morning about a potential Tracy McGrady trade. Sources familiar with the negotiations told ESPN.com that while the Knicks told the Rockets that they remain interested in acquiring McGrady in a deal for Larry Hughes and Jared Jeffries, they are still unwilling to meet all of the Rockets’ demands — cap relief, Jordan Hill, the swapping of 2011 first-round picks and the Knicks’ 2012 first-round pick.

“We’d like McGrady and the cap relief,” one Knicks source said. “But the Rockets are asking for too much. We’re willing to pay a premium to make a deal. But the price right now is still too high.”

According to the source, the Rockets are still looking for other partners. The Bulls have been mentioned as a possibility, however, sources believe that their offer is less attractive than the Knicks’ — even if the Knicks don’t give the Rockets everything they’re asking for…”

Again, Walsh is holding firm and displaying patience. Let’s see how his play works.