Chris Paul to the Knicks: Guide to the Potential Move

Chris Paul is set to become an unrestricted free agent after the 2011-12 NBA season, and it's been speculated that he'll wind up in New York serving as the Knicks starting point guard.

When CP3 attended Carmelo Anthony's wedding, it was reported that he made a toast exclaiming that he, Anthony and Amar'e Stoudemire would form their own version of the "Big Three."

With both Stoudemire and Anthony already with the Knicks, the team is just one player away from making the vision a reality.

Knicks fans have been longing for the moment when they could welcome Paul to the Big Apple, but for the time being it remains an unfulfilled wish.

The team is clearly positioning itself to have major cap space available next summer when the free-agent class is considerably better than the current crop, and it seems as if the Knicks are angling to make another big splash.

How It Could Happen: Signing

Fairly Unlikely

The Knicks have just a shade over $41 million committed for the 2012-13 season to three players: Stoudemire, Anthony and Renaldo Balkman.

However, that number will undoubtedly rise after the club makes some other additions. The Knicks could also choose to exercise a team option on Toney Douglas ($2.067 million), as well as extend the deal of Landry Fields, who really surprised with his contributions during his rookie season.

With Paul facilitating the flow of the offense for the Knicks, the team would really be able to find more creative ways to use its other superstars in Anthony and Stoudemire.

Although Paul is likely to receive a hefty contract that would prevent the Knicks from making sizable upgrades in other areas, his addition to the team would instantly make New York a powerhouse in a rapidly improving Eastern Conference.

It's fairly clear that Anthony and Paul are closely tied together as friends, and one has to wonder if the forward has already whispered a few things in the point guard's ear about how awesome it would be to play together under the bright lights of Madison Square Garden.

How It Could Happen: Trade

With extraordinary financial commitments outstanding to both Carmelo Anthony and Amar'e Stoudemire, the Knicks don't have a ton of assets at the trade table.

However, when the team chose to exercise the final year in Chauncey Billups' contract, the team gave itself a $14.2 bargaining chip at the trade table moving forward, and that will be something that's valued very highly by a team looking to escape some financial turmoil.

The club's package would have to be built around the expiring contract, but that's not going to be enough to get the Hornets to pull the trigger. The Knicks will have to add some of the more intriguing pieces of youth to sweeten the package and even get New Orleans to consider listening.

It's definitely not going to be easy for Paul to land in New York via trade, because New Orleans would also isolate a large portion of its fan base by waving goodbye to CP3 in exchange for a deal centered around financial considerations.

Most Likely Trade: PG/SG Iman Shumpert, SG Landry Fields, PG Chauncey Billups, two future first-round picks and a future second-round pick in exchange for PG Chris Paul.

How Paul Fits in with the Knicks

The Knicks have been in need of a long-term answer at the point guard position for quite some time, and CP3 would represent an obvious solution to the long-standing problem.

It is well-known that Paul is close friends with Carmelo Anthony, and with Paul making the infamous toast at Melo's wedding, one has to wonder if CP3 already has his sights set on playing alongside fellow superstars.

He really looked like he was enjoying himself playing alongside Anthony in the Melo vs. Goodman showdown at Morgan State, and it would be absolutely unbelievable to see what he could accomplish if he had legitimate talent surrounding him on the court.

Paul's presence on the team would finally give New York a player that can be a solid answer at the position, and the Knicks would really be putting an exclamation point on a franchise that is looking to return to relevance after being a bottom-dweller for far too long.

Knicks Chances at Championship with Paul

The odds of the Knicks winning a championship undoubtedly improve with Paul manning the starting point guard position, but it doesn't make them a slam-dunk favorite whatsoever.

The Eastern Conference is rapidly improving, and although both Chicago and Miami are the most notable clubs that come to mind, it would be foolish to discount Boston, Orlando or even Atlanta when discussing teams that could give the Knicks a run.

While not all of the teams are set up for long-term success, there are sure to be teams (like the Nets) that very well could turn it around in a heartbeat. As we've seen with the Oklahoma City Thunder, a franchise can turn from being a bottom-feeder to a contender in the blink of an eye.

Having said that, the addition of Paul to a nucleus of Anthony and Stoudemire would look awfully tantalizing on paper. If the three of them put out on the court what most of us would expect from them, the Knicks could be making postseason noise sooner rather than later.

Odds of Paul Landing in New York

Current Odds: 50 percent

Some might make it seem like it's Paul's destiny to wind up with the Knicks, but I'm not quite ready to make that type of statement right now.

If he's not dealt by New Orleans during the 2010-11 season, there's no doubt that Paul will look to explore the free-agent market. There are only going to be a limited number of teams, however, that will be able to hand out the max contract that he's likely to be seeking.

Although there are definitely teams that can use Paul's services outside of the Knicks, it's going to be tough for the majority to fit Paul into the plans after financial restrictions are set in place with the construction of a new Collective Bargaining Agreement.

The chances of Paul landing in blue and orange could certainly go up by the day when the basketball action picks back up, but right now all we can do is sit and wonder from afar while the players remain locked out.

It could be the most interesting "Big Three" that's been constructed yet, as it would be the first that included a point guard in the equation.