The Knicks have traded Renaldo Balkman!
As you may recall, the Isiah Thomas-led Knicks drafted Balkman in the first round a couple of years ago, passing up players like Marcus Williams and Rajon Rondo. Balkman isn't awful, but he's not any good, either (4.2 ppg and 3.8 rpg). But most fans complained that Balkman would have been available in the second round, possibly even after the draft was over. If this was the guy they wanted, that's fine, but they could have easily had him much later, and they wasted a pick.
Well, Isiah is gone and now, so is Renaldo. Of course, they didn't really get much back for him. Taurean Green and Bobby Jones are about as good as I am, and will inevitably be waived. This will save the Knicks a little dough and a roster spot, but it probably downgrades the team a little. They also got a second-round pick in the deal, which isn't too bad, except Denver is pretty good, and its second-rounder will likely be late and irrelevant.
I don't think this trade debilitates the Knicks in any way, and even if they were on the short end, it was a roster/salary move, not a gameplay move. The only reason this trade deserves any notice is that Balkman was one of Isiah's famously odd decisions, and new exec Donny Walsh isn't keeping him around. With news that Stephon Marbury could be out next, Walsh is seemingly en route to try to fix every one of Isiah's mistakes. Even as a Nets fan, I believe that this goal is quite worthwhile and applause-worthy.