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Woj: Knicks dealing J.R. Smith and Iman Shumpert

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Anthony Gruppuso-USA TODAY Sports

UpdateNew post is here.

MOMENTS before tip-off we have a deal. J.R. Smith was in the starting lineup tonight against Memphis, but instead, he's part of a three-team deal with the Cavaliers and Thunder:

Here's the rest of it, as far as we know for now:

This probably ends up with the Knicks getting the NBA equivalent of nothing -- not Reggie Jackson, not Dion Waiters, just some contracts -- in return while the Thunder and Cavs swap actual assets.

The reasons to trade J.R. Smith are clear: The Knicks don't like him in the Triangle and don't want to keep him around, but worry he'll pick up his $6.4 million player option.

Update: SHUMP TOO!?

Update:

Update: Space. So much space.