ESPN: Hughes to Knicks for T Thomas, J James (rumor)

[Lucky17]

SportsNation Chad Ford: (1:22 PM ET ) Yes. Bulls and Knicks have agreed to a trade. Larry Hughes for Tim Thomas and Jerome James. I'm told it's waiting for league approval.

Another blockbuster.

Another rumor involves Knicks getting Chris Wilcox as well:

Marc Stein: Word is coming in that the Knicks are closing in on some new players.

It is not immediately clear if this would be two separate trades or a three-way exchange, but I'm hearing that Oklahoma City's Chris Wilcox -- who went back to the Thunder on Wednesday night when the Tyson Chandler trade was rescinded -- and Chicago's Larry Hughes are New York-bound.

To complete the transaction(s), Oklahoma City would get Malik Rose and Chicago would receive Tim Thomas, Jerome James and Anthony Roberson.

Trying to nail it all down for you.

[ssspence]

i know he's gotten a bad rep, but from a talent perspective this is an amazing deal for the knicks. no reason hughes can't put up some numbers in d'antoni's system.

[cdif911]

issss this a rumour? a deal? something you came up with reading Uncle John's bathroom reader? Details please

[Lucky17]

issss this a rumour? a deal? something you came up with reading Uncle John's bathroom reader? Details please

http://forums.celticsblog.com/index.php?topic=25846.msg429232;topicseen#new

[The Walker Wiggle]

Tim Thomas can't relish the idea of returning to Chicago...

[celticmaestro]

Tim Thomas can't relish the idea of returning to Chicago...

I'd like to see him bought out and signing here. Always liked his game and he'd be a good addition to our bench. Plus, he hates the Lakers.

[Lucky17]

Tim Thomas can't relish the idea of returning to Chicago...

Actually, I've always thought Thomas was a bit of a hot dog.

[idrinkdetergent]

They did two deals http://sports.espn.go.com/nba/news/story?page=TradeTalkRoundup-090218

[Lucky17]

Stein is confirming Wilcox to NYC in exchange for cash and Malik Rose to OKC.

Marc Stein: Hopefully you've seen all the clarifications on New York's moves.

The Knicks have swung two deals.

No. 1: Tim Thomas, Jerome James and Anthony Roberson to Chicago for Larry Hughes.

No. 2: Malik Rose and cash to Oklahoma City for Chris Wilcox.

Just over an hour to go before the trade buzzer sounds . . .

Rose may be another buyout candidate.

[The Walker Wiggle]

Tim Thomas can't relish the idea of returning to Chicago...

Actually, I've always thought Thomas was a bit of a hot dog.

+1 TP

I like both moves for the Knicks, despite not liking either of their acquired players, Wilcox or Hughes, overmuch. Walsh preserves the team's 2010 cap space still adds scoring punch and needed depth. Hughes should push for the starting job.

[SShorefan 4.0]

Tim Thomas can't relish the idea of returning to Chicago...

Actually, I've always thought Thomas was a bit of a hot dog.

Took me a second to ketchup with that one!

[BigRedDog423]

This year, Walsh has to go down as by far the best executive. He took what any sane basketball fan would consider a hopeless situation and somehow not only improved the financial situation, but is fielding a more talented and entertaining team.

All these other fire sale teams should look to him for example of how saving money does not have to mean giving up on the season.

[The Walker Wiggle]

EDIT: Forget it, James holds a player option worth $6.6 million.

[SShorefan 4.0]

This year, Walsh has to go down as by far the best executive. He took what any sane basketball fan would consider a hopeless situation and somehow not only improved the financial situation, but is fielding a more talented and entertaining team.

All these other fire sale teams should look to him for example of how saving money does not have to mean giving up on the season.

I like Donnie Walsh, too bad he's in NYC.

[Redz]

Looks like the Hughes deal has been confirmed.  The Knicks are working on moving Malik Rose for Chris Wilcox according to this dude:

http://www.cbssports.com/mcc/blogs/entry/11838893/13660871