Mavs, Knicks Close To Chandler, Calderon Deal

June 25 at 4:04pm CST By Chuck Myron

4:04pm: The 51st overall pick in Thursday’s draft would go to the Knicks, too, Wojnarowski tweets.

4:01pm: The Mavs would also send the 34th overall pick in Thursday’s draft to New York, Wojnarowski adds (on Twitter).

3:58pm: The deal will be finalized today, according to Adrian Wojnarowski of Yahoo! Sports (Twitter link).

3:36pm: The teams are on the verge of an agreement, Stein writes in his full story. Wayne Ellington and future second-round draft considerations would also go to New York, Stein adds. The deal could be finalized before July 1st with the inclusion of Ellington, who allows it to meet salary-matching requirements.

3:19pm: The Mavs and Knicks are in advanced discussions on a trade that would send Raymond Felton and Tyson Chandler to Dallas in exchange for Jose Calderon, Samuel Dalembert and Shane Larkin, reports Marc Stein of ESPN.com (Twitter links). Dallas would have to give up additional players in order for the trade to become official before July 1st, though it seems likely the teams envision completing the trade after the July moratorium, when it wouldn’t send the Mavs over the luxury tax line and trigger stiffer salary-matching constraints.

Such a proposal in its current form would allow the Knicks to clear a significant amount of salary, though it probably wouldn’t be enough to clear cap room if Carmelo Anthony re-signs. It would similarly crimp the Mavs’ pursuit of Anthony and other top-tier free agents, though it seems reasonable to suspect there may be other players involved.

Dallas has coveted Chandler, whom the team gave up in 2011 after he helped the Mavs to their only NBA title. Knicks president Phil Jackson denied a report that he told Felton to expect a trade this summer, but the point guard is coming off a subpar season and agreed this week to plead guilty to a felony gun charge in a plea agreement that will allow him to avoid jail time. Other reports have linked the Knicks to soon-to-be free agent point guards.

The deal would remove some of New York’s flexibility for the summer of 2015, since Calderon’s deal has him making more than $7.4MM in 2015/16 and more than $7.7MM in 2016/17. Still, it would be the only guaranteed salary on the books for New York past this season, though J.R. Smith has a player option worth nearly $6.4MM. Similarly, the move would allow Dallas more cap flexibility for that summer, since Chandler’s contract is up after next season and Felton’s player option for 2015/16 is about $3.95MM.

Dalembert’s approximately $3.867MM salary is partially guaranteed for $1.8MM next season. He also has a 15% trade kicker on his deal that the Mavs would be responsible for paying. Chandler would receive $500K from the Knicks thanks to a trade kicker in his deal.

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