Blazers GM Neil Olshey addressed the media to wrap up the 2012/13 season, and we've got the highlights below, courtesy of Ben Golliver of Blazer's Edge..

What went into the decision behind waiving Jared Jeffries?

"Jared was well aware that we were always going to have to waive him. He was part of a sign-and-trade where we had to do three years. His second year would have been guaranteed within five days after the end of the season. We felt it was appropriate to handle while he was here. He was a player that we we were going to have to renounce anyway to create the maximum amount of cap room. As we told Jared, we'll look into it again at the end of the summer. If we have a need and he doesn't have a job, it's something that we can discuss. Right now, where this organization is going, we need every ounce of cap room we can get to create the best roster possible."

What improvements do you need to make this summer?

"It's obvious. We had a tough time protecting the rim, we had a tough time giving up points in the paint. That's not an indictment of J.J. Hickson, we asked a 6-foot-9 power forward to play center every night in a league against the Marc Gasols, Roy Hibberts, Dwight Howards, etc. Even last night against Andrew Bogut. J.J. performed admirably but that's a hole we need to shore up. We've got to get our interior defense better. That's my job, whether it's by draft, trade or free agency, to make sure that's not a hole that Terry walks into next training camp having to address."

Does players recruiting other players actually work or is money the overriding factor in free agency decisions?

"Max money to max players is always a good idea. [Recruiting] is big, guys want to play with guys who are about the same stuff and who are trying to win. The best voice for your organization is your players. How they're treated, the resources they have, how they're coached, how they prepare for games, how aggressive the front office is, how invested the owner is.

All of those things, LaMarcus Aldridge has a larger sample size of anyone in the organization, he's been here the longest, and I think he knows that Paul is going to drive anyone who works for him to build this as quickly as possible. If LaMarcus can embrace and endorse what we're doing, there's more credibility there sometimes than a general manager who is recruiting or a coach or his agent who is negotiating the deal on a player to player level. I think that the bigger, stronger advocates of guys like Damian, LaMarcus and Nic can be for us, the easier free agent recruitment will be for us."

Will you tender a qualifying offer to Eric Maynor?

"It's more strategic than complex. Eric has a very significant cap hold. We really like Eric. We made the moves because we want him to be a part of our future but there are realities to how strategically we can maximize the amount of room we have, the mini-mid level that we have and the draft pick. Who knows? Our roster may look far different come July 1 which can affect what we do as well. Eric, Andy Miller, everybody knows we are going to maximize every tool that we have knowing that we are taking into consideration that we want Eric back with us."

The Trail Blazers have officially released Jared Jeffries, the team announced today (Twitter link). While the timing of the move may seem unusual, considering the Blazers' season is over, Jeffries' contract for next season would have become guaranteed had the team not cut him within the next five days.

Jeffries, 31, was acquired by the Blazers last July as part of the sign-and-trade deal that sent Raymond Felton to the Knicks. Jeffries also had to be signed-and-traded as part of the transaction, which meant he had to be signed to at least a three-year contract, although the Blazers only had to guarantee the first year.

Earlier this week, Jeffries told Chris Haynes of CSNNW.com that he didn't expect to be retained by Portland, and would likely seek another team that would have more playing time for him. With the Blazers this season, Jeffries appeared in less than half the team's games and set career-lows in many statistical categories, including PPG (1.2) and MPG (9.2).

Blazers owner Paul Allen spoke to reporters this evening about the offseason for his team, which begins tomorrow, and it seems one decision will have to be made fairly quickly. Jared Jeffries is under contract for the next two seasons, but neither is guaranteed. Next season would become guaranteed if he's not waived by the fifth day following Portland's final game this season, according to Mark Deeks of ShamSports. Chris Haynes of CSNNW.com believes it's likely that Jeffries won't be back, judging by the 31-year-old's lack of playing time this season, so it appears the Blazers could be cutting him loose soon. Jeffries wants to remain in the NBA next season, however, and tells Haynes that he'll be looking for more playing time wherever he winds up.

As we wait to learn the fate of Jeffries and others as the offseason begins for nearly half the league, there's plenty more NBA news:

• Sam Amick of USA Today examines which coaches are most likely to be out of work soon, placing Mike Dunlap among those in the greatest danger of losing their jobs, along with Keith Smart, Byron Scott and Lawrence Frank. He also suggests that if Rick Adelman returns to the Wolves, GM David Kahn will as well, but if the coach isn't back, Kahn may be on the outs, too.
• Raptors GM Bryan Colangelo insists to Steve Simmons of the Toronto Sun that he never tried to fire coach Dwane Casey this season, as Simmons had previously reported.
• Wizards owner Ted Leonsis, speaking with the team's broadcasters during tonight's game, said retaining unrestricted free agent Martell Webster will be key, confirming a pair of recent reports. CSNWashington.com has the video, in which Leonsis also expresses a desire to keep John Wall long-term.
• Executives around the league who spoke to Ric Bucher of 95.7 The Game are widely split on how much O.J. Mayo could command if he turns down his $4.2MM option for next season. Some figure he can't expect much of a raise, and others believe he could easily make $10MM-$12MM (Sulia link).
• Point guard Josiah Turner, who played professionally in Canada this year after leaving the University of Arizona, will enter the draft, a source tells Marc J. Spears of Yahoo! Sports (Twitter link). Neither DraftExpress nor ESPN.com rate Turner as a top 100 prospect.

Here are the latest updates from around the Northwest Division:

• Ricky Rubio practiced with the Timberwolves for the first time since tearing his ACL in February. He told reporters that his knee felt good. (Associated Press link via the New York Times)
• Since coming to the Nuggets, Andre Iguodala's defense has exceeded its already high expectations, observes Benjamin Hochman of the Denver Post.
• Bill Oram of the Salt Lake Tribune writes that young players such as Alec Burks have been taking advantage of the minutes opened up by injuries on the Jazz.
• Jared Jeffries has had a positive impact as a veteran presence on a young and rebuilding Trail Blazers team, writes Chris Haynes of CSNNW.com.

The latest updates out of Portland from Trail Blazers training camp on Friday evening:

• Rookie guard Will Barton tells CSNNW.com's Chris Haynes that he will continue to sit out team practices until his sore hamstring is completely healed.
• Ben Golliver of Blazer's Edge reports that Jared Jeffries underwent the cutting-edge orthokine treatment popularized by Kobe Bryant and baseball star Alex Rodriguez.
• Head coach Terry Stotts tells The Oregonian's Joe Freeman that he will not name a starting center in the immediate future, preferring to create competition in training camp between Meyers Leonard, J.J. Hickson, and Joel Freeland.
• Freeman also reports that Stotts will not begin making cuts to the training-camp roster for another couple of weeks.

THURSDAY, 1:42pm: Mark Deeks of ShamSports clarifies that Felton's deal with the Knicks is for four years and about $14.86MM, with a fourth-year player option.

MONDAY, 4:13pm: The trade is official, according to a Blazers press release. The Knicks receive Felton and Thomas, while the Blazers get Jeffries, Gadzuric, Papanikolaou, Printezis, cash, and a 2016 second-round pick. As ESPN.com's John Hollinger points out (via Twitter), the Knicks can't be sending more than $1MM to Portland, since they already sent $2MM to Houston in the Marcus Camby deal.

MONDAY, 7:59am: A few more details of the swap, courtesy of Jason Quick of the Oregonian and Howard Beck of the New York Times: The Blazers will acquire Jeffries, Gadzuric, Papanikolaou, and Georgios Printezis, and cash from the Knicks, with New York also paying for Jeffries' 2012/13 salary, which appears to be for the veteran's minimum (Twitter links). Felton, meanwhile, will earn $10.5MM on his three-year deal (Twitter link).

SUNDAY, 11:37am: According to a tweet from the Oregonian's Jason Quick, the Knicks might be sending Kostas Papanikolaou to Portland along with an undetermined amount of cash to help pay Jared Jeffries' $3.1MM salary. Papanikolaou is a Greek forward who was selected by New York in the second round of the 2012 NBA draft. 

SATURDAY, 9:53pm: The Knicks are set to acquire Raymond Felton from the Trail Blazers in a sign-and-trade deal, reports Frank Isola of the New York Daily News (via Twitter). The Blazers will sign Felton to a three-year, $10MM contract prior to completing the trade. Forward Kurt Thomas will be joining Felton in New York as the Knicks will send Jared Jeffries, Dan Gadzuric and a 2016 second round pick to Portland to round out the deal.

In addition to receiving Thomas and Felton from the Trail Blazers, the Knicks will also acquire the rights to two players currently in Europe. The Knicks now face the decision of matching the Rockets' offer sheet to Jeremy Lin or allowing the former Harvard star to leave for Houston as Felton becomes New York's latest starting point guard.

The acquisition of Felton will provide the Knicks with a seemingly cheaper alternative to Lin as the third year of his offer sheet from the Rockets was designed to be cost prohibitive. While it appeared Lin was destined to return to the Knicks regardless of price, the Knicks may simply not believe that the 23-year-old is worth the money being offered to him by the Houston. Stefan Bondy of the New York Daily News suggests that Lin may not even want to play in New York, which would be reason enough for the Knicks to reconsider making such a heft investment in the young guard (via Twitter).

Felton, 28, enjoyed success with the Knicks during his first stop with the team during the 2010/11 season before being trade to the Nuggets as part of a package to acquire Carmelo Anthony. The former Tar Heels star averaged 17.1 PPG and 9.0 APG in 54 starts with the Knicks under then head coach Mike D'Antoni's tutelage. Felton's play fell off after landing in Denver and continued to struggle when he was traded to the Trail Blazers after the 2010/11 season. His time in Portland saw the veteran guard average a career-low 11.4 PPG as he started nearly all of his team's games.

For the Trail Blazers, receiving anything for Felton, an unrestricted free agent, serves as an added benefit for the franchise as it crafts a new identity. Look for Portland to waive Gadzuric and use Jeffries as a defensive specialist off the bench.

The return of Jeremy Lin to the Knicks seemed to be more of a sure thing than Michael Jordan smoking a cigar on the golf course merely 24 hours ago. With the Knicks set to add Raymond Felton to their backcourt through a sign-and-trade with Portland, Lin's future in New York remains unclear. The Knicks have until 11:59pm (EST) on Tuesday to make up their mind and will reportedly take the entire time allotted before announcing a decision. We'll keep track of all the latest rumors and news surrounding the offseason version of Linsanity with the latest news on top. 

• The New York Times' Howard Beck writes that a person with knowledge of the Knicks' situation said while it is "more likely than not" that they don't match the Rockets' offer, it is also "not definitive."
• Carmelo Anthony is the latest to chime in on the offseason Linsanity.  Anthony called the Rockets-Lin offer sheet "ridiculous" during an interview with reporters today, according to Yahoo's Marc Spears.  Anthony also insisted that should the Knicks not match, it is not his doing.  "It's up to ownership to match, not me," he said. "I'm tired of people trying to blame me for the fact that the Knicks might not match. I want everybody to get paid if they have the opportunity."
• Ian O'Connor from ESPN New York gives his take on why the Knicks must match the Rockets' offer for Lin, saying that his stint of success last year, while brief, showed too much promise for the Knicks to not retain him.

Earlier news:

• Sports Illustrated's Sam Amick looks at some of the seemingly foolish moves made this offseason, concentrating specifically on Lin's agreement with Houston.  Knicks guard J.R. Smith was candid with Amick, saying that the money Lin will get may not sit well with some Knicks should they match:  "Without a doubt.  I think some guys take it personal, because they've been doing it longer and haven't received any reward for it yet. I think it's a tough subject to touch on for a lot of guys."
• Bradford Doolittle, in an ESPN insider piece, examines how Jeremy Lin fits into the Rockets plans, which they hope will also result in the acquisition of Dwight Howard.
• A source within the Knicks organization has told ESPN.com's Stephen A. Smith that the team will not match Houston's offer for Jeremy Lin, making him a member of the Rockets. 
• Jared Jeffries believes Lin's time in New York is over and expressed shock in a text message sent to ESPN, writes Jared Zwerling of ESPNNewYork.com. "I never thought they would let him go," texted Jeffries. 
• Marc J. Spears of Yahoo! Sports says sources tell him it is highly unlikely that the Knicks will match Lin's offer sheet from the Rockets (Twitter link).

The Knicks will meet with free agent center Marcus Camby in the next few days, but a source told Marc Berman of the New York Post that it won't be in New York.  The get-together will likely take place in Las Vegas as coach Mike Woodson is already there with assistant GM Allan Houston for the U.S. Olympic Team practices.  More out of MSG..

• The Knicks have interest in Camby but would prefer not to use the $3.09MM mini mid-level exception that he is seeking, a source told Berman.  There's a chance that they could also acquire Camby via sign-and-trade, just like they may wind up doing with Jason Kidd.  Trade chips that could be used include rookie Jerome Jordan, Josh Harrellson, and Toney Douglas.
• Another scenario is splitting the $3.09MM mid-level exception between Camby and Spanish League point guard Pablo Prigioni, who would take about $700k.  The 35-year-old recently said that he is waiting for the Knicks to reach out to him but his first option is to return to Caja Loboral.
• The Knicks could use a backup center to Tyson Chandler and have talked with Jared Jeffries about returning for the veteran’s minimum.  Jeffries averaged 4.4 PPG in 18.7 minutes per contest last season.

The Knicks are currently battling the Pistons at Madison Square Garden after winning five of their last six games under new head coach Mike Woodson. While the team's fortunes are currently looking more favorable since the departure of Mike D'Antoni, the Knicks' schedule becomes more difficult with upcoming games against Orlando, Chicago and Miami. Let's take a look at the state of the Knicks as they look to improve their playoff seeding heading into the season's final stretch. 

• Barbara Barker of Newsday says Mike Woodson is the right fit for the Knicks for the rest of the season and perhaps beyond given his previous experience in Atlanta.
• While not exactly a favorite of Knicks fans given his propensity to take questionable shots, the news of losing Jared Jeffries to injury for the next two weeks did not sit well with Woodson, writes Jared Zwerling of ESPNNewYork.com. The backup center makes his living by playing stellar defense and giving an all-out effort every time he is on the court.
• Given the team's quiet approach at the trade deadline, the Knicks' success moving forward will be based on Woodson's ability to get the most out of his players, says Mike Mazzeo of ESPNNewYork.com. For Woodson, the focal point is Carmelo Anthony, who is averaging over 20 PPG on the season but is shooting below 40% from the field for the first time in his NBA career.

With 15 points, eight assists and two steals three quarters into his first start as a Knick, Jeremy Lin is making a strong case to cool some of the point guard trade rumors surrounding Madison Square Garden. Beyond Lin, the uncertain state of the Knicks roster has occupied NBA conversation in the wake of new and old health concerns as well as personal tragedy. 

Here are a few evening items on the Knicks as they lead the Utah Jazz 75-73 through three quarters of play:

• Already limited by Amare Stoudemire's untimely departure from the team, the Knicks lost All-Star starter Carmelo Anthony early in the first quarter to a strained groin, reports ESPNNewYork.com's Ian Begley. Anthony will not return to the game and may require the Knicks to scour the D-League for frontcourt help.
• Baron Davis is not expected to join the Knicks until after the All-Star break (Feb. 24-27) thanks to an elbow infection, writes Matt Buser of Yahoo! Sports. If newly-minted starter Lin cannot build on his breakout performance of Saturday night, the Knicks could look to sign a point guard to a 10-day contract, which teams can now offer free agents as of today.
• Reeling from the loss of his brother in a traffic accident earlier this morning, Stoudemire's status with the team remains unknown as he flew to Florida to be with his family, says Newsday's Al Iannazzone. With three more games this week, the Knicks will start Jared Jeffries at power forward, who may be able to boost his trade value as he currently has 13 points and seven rebounds through three quarters this evening.