Here, in advance of the Jeremy Tyler signing to come, is the Knicks' space-clearing move:
Farewell, Li'l Nepotiz. You didn't deserve any of this. I mean that both ways. You didn't deserve to be on an NBA roster, because you are not good enough at basketball to be on an NBA roster, but you also didn't deserve the ridicule that comes with getting an NBA roster spot because you are the younger brother of a player represented by an agency that has its grimy meathooks all up inside a once-respected NBA organization. That's not your fault. Someone offered you money to play basketball, so you accepted it like anyone would. Best of luck in the future. We will always remember those two beautiful minutes on Christmas and (apparently) Saturday against the Raptors. I kinda wish you didn't spin Saturday because a single, stat-less minute of Chris Smith on Christmas Day would be the greatest arcane NBA career ever.
The Tyler signing hasn't been announced yet, but he was en route to New York as of last night, so perhaps that'll be done by the end of the day.
Update: Here's the full story. Again, not official yet, but clearly happening.