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It’s official: Knicks trade Tyson Chandler, Raymond Felton to Dallas

Indiana Pacers v New York Knicks - Game Five

NEW YORK, NY - MAY 16: Tyson Chandler #6 of the New York Knicks racts against the Indiana Pacers during Game Five of the Eastern Conference Semifinals of the 2013 NBA Playoffs at Madison Square Garden on May 16, 2013 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Elsa/Getty Images)

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UPDATE 10:30 pm: And it is official, the Dallas Mavericks have confirmed the trade.

The final details are Tyson Chandler and Raymond Felton go to the Mavericks in exchange for Samuel Dalembert, Jose Calderon, Wayne Ellington, Shane Larkin and two 2014 second-round picks.

UPDATE 5:45 pm: The two sides have reached an agreement in principle on this trade, reports Adrian Wojnarowski of Yahoo Sports.

It still must be formally approved by the league office, but the deal is in place.

4:40 pm: You know Phil Jackson needed to go big to change the Knicks roster, and with that maybe persuade Carmelo Anthony to stay in New York (and other big names to come).

Well, this is big. Not sure it helps keep Anthony in town but it’s big.

The Knicks are near a deal to send Tyson Chandler back to Dallas and Raymond Felton along with him, reports Marc Stein of ESPN.

Multiple other reports called the deal “close”.

It should be noted that Chandler is one of Anthony’s better friends on the Knicks roster.

As laid out this is a trade-off on the court for New York. On one hand, while Chandler had a rough last season he is still one of the NBA’s better rim protecting big men. They will miss his presence inside. However at the point Calderon is an upgrade over Felton — the triangle needs three point shooters and Calderon does that (44.9 percent last season), plus is a low turnover guy. Calderon plays smart, but is used to having the ball in his hands more, it will be an adjustment. Felton struggled last season in just about every way, so there is some addition by subtraction there.

Plus the Knicks get Wayne Ellington and more importantly Shane Larkin, who has promise.

The Knicks also save money. Chandler and Felton make a combined $19.4 million. Dalembert is set to make $3.8 million but can be bought out for $1.8 million. Calderon, Ellington and Larkin combined make just $11.5 million.

What the Mavericks get is a real center to put next to Dirk Nowitzki — they get the rim protecting big that was there when the Mavericks won the title in 2011. They need that in the West. Felton gets the chance to turn his career around under one of the best Xs and Os coaches in the game, one who will put him good positions to succeed.