I thought that the Knicks don't have their 1st rounder for like 3 of the next 5 years or something. Edit: Just looked it up. Houston has the right to swap their 1st round pick with New York's next season, unless the Knicks pick is #1 overall. They also don't own a 2nd round pick next season. In 2012, they owe Houston their 1st rounder, but it's top 5 protected. Assuming getting CP3 would keep the Knicks out of the lottery, they wouldn't be able to trade a 1st round pick until 2014 (because the new rule about trading consecutive 1sts)