Jamal Crawford was traded to the New York Knicks in a six-player deal on Thursday, soon after signing a seven-year deal worth about US$56 million with the Chicago Bulls.
In exchange for Crawford and veteran forward Jerome Williams, New York gave the Bulls Frank Williams, center Dikembe Mutombo, forward Othella Harrington and center Cezary Trybanski.
"Obviously Jamal is the best player in this deal, and it's not easy giving up a young talent like that," Bulls general manager John Paxson said. "The way that we looked at it is there were certain things we needed to get. We had to get substantial financial [relief] and this gives us some flexibility."
The deal will save the Bulls about US$18 million in cap space. The contracts of all of the New York players expire after this year, and Jerome Williams still has US$25 million and four years left on his current deal.
"It ends up being one we all can live with," Paxson said. "We're just not in a position to give Jamal the type of deal he was looking for, and Isiah was really good at working to get the player he wanted."
Crawford led the Bulls with 17.3 points a game last year and is one of the league's top young guards. After averaging 11.2 points and almost four assists in his first four seasons in the NBA, the restricted free agent would have commanded a hefty, long-term contract. But the Bulls have made big men Tyson Chandler and Eddy Curry the cornerstones of their rebuilding effort, and as restricted free agents next summer, they'll be eligible for their own big deals.
Enter the Knicks.
New York general manager Isiah Thomas has been interested in Crawford for months, saying he was at the top of the Knicks' wish list this summer.
"He reminds me of myself in the way he handles the basketball and his ability to create and score," Thomas said of Crawford, who will wear Thomas' old No. 11. "The ability to score and pass the ball are two things that he possesses. He's a tremendous talent and I'm honored that he would choose No. 11 to wear."
Crawford wore No. 1 with the Bulls, but Penny Hardaway already has that number.
Crawford also gives the Knicks insurance for Allan Houston, who missed much of last season and the playoffs with knee and leg injuries. The Knicks lost to the New Jersey Nets in the first round of the playoffs.
"Last year when Allan [Houston] went down, we were saying that if he was healthy we'd be able to go further," Thomas said. "Before we started this whole chase and pursued it, we talked about if Allan was healthy and we talked about his coming off the bench. He had no problem coming off the bench."
Thomas also was excited about Jerome Williams, whose tenacious defensive play has earned him the nickname "Junkyard Dog."
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