AP: Tracy McGrady to Knicks in three-way trade

HOUSTON (AP) — The New York Knicks have acquired disgruntled guard Tracy McGrady and his massive expiring contract in a three-team swap with the Houston Rockets and the Sacramento Kings, a person with knowledge of the negotiations tells The Associated Press.

The person spoke today and requested anonymity because the deal has not been officially announced.

The Knicks also will get Sergio Rodriguez from the Kings, though the lure of the deal was McGrady and his expiring $23 million contract.

The Rockets will get guard Kevin Martin and forward Hilton Armstrong from Sacramento and forward Jordan Hill, Jared Jeffries and draft considerations in 2011 and 2012 from New York.