Knicks trade for Denzel Valentine, release Wayne Selden, likely to cut Valentine this week

The Cleveland Cavaliers needed a point guard after Ricky Rubio’s season-ending torn ACL. The Los Angeles Lakers needed to reduce their payroll and open a roster spot. The New York Knicks needed...I don’t know, really. You do the hokey-pokey and you turn yourself around and what it’s all about is a three-team trade where Rajon Rondo goes from L.A. to Cleveland, the Lakers clear $4M in salary and luxury tax payout and room to sign Stanley Johnson for the rest of the year (raise your hand if you had “LeBron, AD & Russ won’t be enough; get that squad Stanimal!” in your preseason predictions), and the Knicks...well, we’re not sure yet.

New York waived Wayne Selden, which maybe means this is the order of operations?

Valentine’s salary becomes guaranteed for the year on January 10th; that’s why Macri speculates he’ll be cut before then. It’d seem the Ryan Arcidiacono signing is with an eye on a longer-term deal to provide backcourt depth. Not a bad idea when your leading men at the point are a combined 64 years old with knees as volatile as long-buried land mines. Given that Valentine is likely a goner, I’ll speak no more of him here. If the Knicks do somehow end up holding onto him, we’ll dive more into his game then.