Knicks Rumors: Latest on Potential Trades for Chris Paul, Victor Oladipo, More

The New York Knicks have gone eight straight years without a winning season, but the new administration is hoping to turn things around in a hurry.

Of course, the team will still need outside help in order to improve upon the 21-45 record from 2019-20, with backcourt upgrades especially becoming a priority. If the team is aggressive this offseason, it could build an exciting lineup going into next year.

While Knicks fans always dream big when it comes to trades, the best realistic option is likely Victor Oladipo.

The Indiana Pacers star has been a target for the Knicks since at least May, per Sam Amico of The Athletic, and the team is still reportedly interested in him. According to Marc Berman of the New York Post, the team also has the assets to swing this type of deal.

"Dallas' two first-round picks (2021, 2023), Julius Randle and Dennis Smith Jr. or Frank Ntilikina could whet the Pacers' appetite," Berman wrote.

Though the 28-year-old has denied reports he is looking to move on from Indiana, his role has decreased since the quad injury that kept him out for a full year. After earning two All-Star selections, he averaged just 14.5 points per game in 19 appearances this season while sharing the spotlight with Domantas Sabonis, Malcolm Brogdon and T.J. Warren.

The Knicks could buy low on the guard bouncing back in 2020-21, the final year of his current contract, while the Pacers could add more depth to help contend in the East next season.

If that trade doesn't work, New York could try to lure Chris Paul in a trade with the Oklahoma City Thunder.

Berman reported the Thunder are "motivated" to trade Paul and could seek a first-round pick and a young player, potentially Kevin Knox.

Knox showed promise in the past but is coming off a miserable second season where he averaged just 6.4 points and 2.8 rebounds per game.

Paul would likely prefer to play for a contender, although he already showed last season he could take a team without high expectations to the playoffs. In his one year with the Thunder, the 10-time All-Star averaged 17.6 points, 6.7 assists and 1.6 steals per game while finishing ninth in the NBA in win shares, per Basketball Reference.

He won't turn the Knicks into a title contender, but Paul could do enough to put the team in the playoffs. After years of futility, this could be enough to justify the trade, even with a $41.4 million salary next season.

The team could also use the draft to upgrade the backcourt, although the team might not be happy with its current spot at No. 8.

Berman reported the team has Killian Hayes, Tyrese Haliburton, Kira Lewis and Tyrese Maxey on the radar, although the front office sees a significant drop off after LaMelo Ball.

The Knicks had previously been considered a potential option to trade up in the draft to land Ball, as Wes Goldberg of the Mercury News reported in May, and opposing teams could be willing to complete a deal.

Mike Vorkunov of The Athletic speculated the Knicks could trade Dennis Smith Jr. and take on Thaddeus Young's contract in order to move up to No. 4 or trade Mitchell Robinson in a deal to get the No. 2 pick.

If New York believes Ball is going to be a star, either of these trades could be worth the cost.

With that said, the Knicks might not want to trade away Smith based on his upside.

Ian Begley of SNY reported the guard still has support within the organization and reported to camp early to work with new coach Tom Thibodeau. 

The 22-year-old averaged just 5.5 points per game in 34 appearances last season, but he averaged 15.2 points and 5.2 assists as a rookie with the Dallas Mavericks and could use his athleticism to be a solid NBA point guard if he can improve his shooting.

Keeping Smith and other core players could work for the Knicks if they add key players in free agency, with Fred VanVleet reportedly one target, per Begley. The former undrafted player emerged as a star for the Toronto Raptors this past season (17.6 ppg, 6.6 apg), and he would upgrade the backcourt on both ends of the court.

Effectively using the No. 8 draft pick would then help the team improve without losing any of its promising young talents.

Though no one should be off-limits because of the rebuild, there are a lot of ways for the team to get better heading into 2020-21.