Tracy McGrady: Soon To Be a Knick

Liam CallahanContributor IFebruary 17, 2010

NEW YORK - JANUARY 26:  Tracy McGrady #1 of the Houston Rockets looks on against the New York Knicks on January 26, 2009 at Madison Square Garden in New York City.  NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, User is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Chris McGrath/Getty Images)
Chris McGrath/Getty Images

Early reports this Wednesday have T-Mac on his way to the Big Apple.  This move will allow the Knicks to have enough cap room to offer two max contracts this offseason.

The deal would send Jordan Hill, Jared Jeffries, and Larry Hughes to Houston.  Also, the deal will have the Knicks giving the Rockets the right to swap first-round picks in 2011 and sending the Rockets their 2012 first-round pick.

Details are still being worked out on the protection of the picks. The trade creates approximately $9.5 million additional salary cap room this summer and likely gives the Knicks the ability to offer two maximum contracts.