The Knicks trade is very interesting. To me, it appears that the Knicks are waiving the white flag on Melo. Why trade their 2nd best player (Tyson Chandler) who only has 1 year left on his deal in a deal that increases their 2015-16 team salary? They essentially added a little over 3M cap hit for 2015-16 to save approximately 3M for 2014-15. There's only 2 reasons the Knicks would want to clear cap space for this year. One would we be to try to create cap room to sign someone to entice Melo to stay. Even with this deal they'd still be $30M or so over the cap after signing Melo to a max contract, so that 3M isn't going to do anything. The other reason would be to get under the tax line after losing Melo. They could do this by just letting Melo walk. But they don't really want to lose him for nothing, if they can help it. So they clear just enough space to be able to take Boozer back (and all the assets that come with him) and still come in under the tax line. There are many S+T deals that can be put together, but it'll probably look something like Melo and Calderon or J.R. Smith for Boozer, Dunleavy, Snell, 2015 1st round pick, Sacramento pick, and non-guaranteed contracts to make money match. It's possible that the Bulls will include 1 or both of the guys they take in the draft tomorrow as well. I don't see Mirotic being included, but he can be added in if necessary. The Bulls would also be taking back a multi-year contract to help the Knicks clear space for the 2015 offseason. I am an optimist and so maybe I am reading too much into it, but it just seems very strange that the Knicks would make a deal that would reduce available cap space for their 2015 offseason plan if they still hope to retain Melo.