Are the Knicks going after every player that was once apart of the team? Â Will I see Walt Frazier put down the analysis mic and suit up soon? Â That’s what it looks like as they completed a sign-and-trade that brings back former Knicks Raymond Felton and Kurt Thomas back to New York. Â Read more after the jump.
The Knicks agreed to acquire Felton and Thomas from Portland in a sign-and-trade sending Jared Jeffries and Dan Gadzuric to the Trail Blazers.  According to Newsday:
There might be more involved in the deal. Felton and Jeffries are free agents, so both have to sign their contracts before the trade can be complete. A league source said Felton will get a four-year deal for close to $18 million.
Felton remained on the Knicks’ radar after they lost out on Steve Nash. They ultimately signed Jason Kidd, but they maintained dialogue with Felton’s agent. Talks apparently heated up after Lin signed a three-year, $25.1-million offer sheet with the Rockets on Friday that includes an escalator in Year 3 that will pay him $14.9 million.
This makes you wonder if the Knicks will decline to match the Rockets offer to Jeremy Lin. Â They have until 11:59 p.m. Tuesday to match it. Â Previously it was assumed that the Knicks would match the offer without question; one source even said the Knicks would match “up to a billion dollars”. Â Now that isn’t looking as certain with the signing of Raymond Felton. Â It is a big asking price for a guard who put in a few weeks of work. Â Well the clock is ticking.
