Clearly, this would be a steep price to pay for McGrady, but this deal is NOT for McGrady, it’s to clear the last remaining cap space needed for the Knicks to obtain two max free agents this summer.  Yes, the price is steep because Donnie is backed into a corner (having made his 2010 free agency plans obvious — how could he have hidden them), but clearing JJ is an absolute must.  No one was taking that Jeffries contract back without a sweetener and Hill is the best non-impact sweetener we have.  Would you rather we include Gallo or Chandler?  Heck no.

The inclusion of draft picks is where a lot of us start to get squeamish and for good reason.  If Donnie comes up empty with the free agent class this summer, this franchise would appear to be toast with no picks to look forward to and no apparent fall back plan.  But, as long as Donnie has the foresight to add lottery protection to any traded picks — an absolute must — then I’m behind the deal.  That way, if we crash and burn we’ll still have those lottery protected picks to save us.  And, remember, in all likelihood we can always just buy some late first round picks in the future (as we bought the Lakers pick which resulted in Toney Douglas).

What do we expect to get out of McGrady though?  Reports have it that this would essential amount to a 30 game try out.  I think there is some truth to that.  It seems more like a risky, if all else fails this summer fall back plan.   I seriously doubt we re-sign McGrady this summer if we can sign Lebron or Joe Johnson or Dwayne Wade, unless it’s on the very cheap.  How cheap will depend on how well he plays out the season, and if there is any market for a fragile, yet talented headcase this summer.

As for McGrady’s impact this season, I’m a bit confused.  We have Gallo and Chandler.  Maybe one of them plays some more 4?  Maybe Gallo gets a little rest since he’s hit a bit of a rookie wall.  Also, with Jeffries being gone, it seems that Jonathan Bender will be back in the mix, and you have to assume that signing Bender was always about creating a backup plan for Jeffries’ eventual departure.  But JJ’s D will sorely be missed, to the point that it will offset any offense McGrady brings to the team.

And, the team’s most pressing need for almost two seasons STILL hasn’t been addressed — we need better PG play!  Can Donnie make something happen for DJ Augustin or Luke Ridnour?  Could Donnie have trumped the Outlaw/Blake for Camby trade being talked about today, with an offer of “all-star” David Lee?  Will Donnie pull the trigger on a Nate Robinson deal, maybe to the Celtics?  With Donnie’s ability to hide his trade intentions from the media, you have to think there is one last move up his sleeve?

Update: This is the best article I’ve seen explaining the cap situation this summer for the Knicks.
http://www.hoopdata.com/recent.aspx?aid=155

Charlotte’s D.J. Augustin is currently struggling with Brown’s Play The Right Way edict, which could be a good thing for the Knicks. Augustin remains a player of interest for the Knicks, who, according to a team source, had extensive talks last season with the Bobcats regarding a deal for the second-year guard out of Texas.

I haven’t gotten to see DJ play lately.  On paper he’s a perfect PG for D’Antoni.  I’d love it if the Knicks could find a way to get him, though I wouldn’t want to part with Duhon finally clicking and playing in stride.

Unfortunately, I think this rumor is simply Isola looking for something to write about relating to the Knicks playing Charlotte tonight.

Not straight up, of course since the salaries don’t match, but that’s the heart of the offer according to Adrian Wojnarowski of Yahoo!.  Woj has been on the money a lot, and I trust if he’s seeing smoke.  Here is what he says:

As Thomas has rehabbed a broken forearm, the Bulls have had discussions with several teams, but perhaps none as serious as the ongoing dialogue general manager Gar Forman has had with New York Knicks president Donnie Walsh…  Several sources believe the Bulls are agreeable to a package of Thomas and Jerome James for Knicks forward Al Harrington. Thus far, Walsh has resisted parting with Harrington, but discussions are still active and the teams have explored different combinations in recent days that would ultimately deliver Thomas to the Knicks… “Nothing is imminent, but both sides would like to figure out a way to do this,” one league executive briefed on the talks told Yahoo! Sports.

As far as I’m concerned a deal like this couldn’t happen soon enough.  The likelihood of a deal like this also seems high, considering they were a trade partner last year.  It doesn’t necessarily do anything for us in terms of 2010, but I think Thomas would excel for the Knicks.

In other news: George Bush calls “my bad” on Iraq.

Frank Isola reports Jim Dolan has reservations about Iverson’s character and could block the signing:

http://www.nydailynews.com/sports/basketball/knicks/2009/11/20/2009-11-20_dolan_iverson.html

I also read that it was D’Antoni that pressured Walsh on Iverson, and Walsh conceded.  Gotta find where I read that.  Reminiscent of D’Antoni allegedly pushing for the Shaq trade?

UPDATE: Alan Hahn and Howard Beck twittering that AI to NY is DEAD (10:10am).  Is Jim Dolan my new hero?  Does he grant himself Yes! and the Foul immunity for a least a little while?!

UPDATE  2: From the NYTimes: http://www.nytimes.com/2009/11/21/sports/basketball/21iverson.html?_r=1&ref=sports

Reports have mentioned a locker room that is divided based on a leadership standpoint. Multiple sources have told me that the team is split and no leader has emerged and they feel disrespect about the organization’s 2010 focus. The thinking is that Iverson, a sure Hall of Famer, could take that leadership role that seems to be split in the locker room between Harrington and David Lee

No idea if there is any legitimacy to this, but I feel like I’ve noticed Lee and Harrington bickering on the court.  The two haven’t shown any chemistry, but then again the only player on the court Harrington has any chemistry with is himself.  Not exactly sure how Iverson would add any cohesion, unless they thought process is that winning, in and of itself, adds cohesion.

With the team in a free fall, and no other help on the horizon, Knicks officials are seriously considering Iverson as a quick fix. The matter was still being deliberated on Wednesday, but one team official said the chances were at least 50-50 that they would pursue Iverson.

Another person with close ties to the team put it in stronger terms. “It’s a given,” said the person, who was not authorized by the team to discuss private deliberations. “They’re going to make the biggest play for him.”

At first, I thought, why not?!  Anything to get us out of the basement.  Anything to stop us from suffering the indignity of trading away another top 2 draft pick in the past 5 years (Bulls getting Tyrus Thomas with our #2 after Curry trade – I think?).  Iverson isn’t getting the Knicks into the playoffs, but maybe the Jazz gets what becomes our #8 pick rather than a potential #1.

But, then I thought, who cares about the pick.  It’s gone.  We’re not getting it back.  I don’t want the young guys learning bad basketball from Iverson that they can’t unlearn.  I don’t want Iverson taking 25 shots a game and everyone else standing around the 3 point line watching.  I don’t want to see Iverson pout.

It kinda speaks volumes about how terrible this season has been because I’ve never been a fan of Iverson.  I hate his game.  Don’t like him.  I’ve never ever, ever wanted him in a Knicks uniform.  I can’t stand him.  But, that I’d even honestly consider it, and be so depressed about this team that for a split second I thought, ‘we should pick him up!’ really makes me realize how desperate I feel about the need for the Knicks to shake things up.