Knicks get Steve Francis

[Eric]

for Hardaway and Ariza. Note that ESPN Insider Chris Sheridan incorrectly says that Ariza went to Southern Cal (he went to UCLA, not USC). Here it is from http://sports.espn.go.com/nba/news/story?id=2339941:

Steve Francis is headed to the New York Knicks, who acquired the three-time All-Star from the Orlando Magic on Wednesday for Penny Hardaway and Trevor Ariza.

The deal will pair Francis with Stephon Marbury as the highest-paid backcourt duo in the NBA. The Knicks were still talking with several other clubs as team president Isiah Thomas worked at remaking a roster that has stumbled to the league's second-worst record, 15-37.

For the Magic, the trade will provide salary cap relief in 2007 (once Grant Hill's $16.9 million comes off the cap) when they can drop further beneath the cap than any of the league's 30 teams. That will be particularly attractive that summer when a bumper crop of free agents -- including Paul Pierce, Chauncey Billups, Rashard Lewis, Vince Carter and Mike Bibby -- will be on the market, giving Orlando several options in figuring out exactly how to rebuild around 20-year-old power forward Dwight Howard.

Francis is owed $49 million over the next three seasons, while Hardaway's $15.75 million contract comes off the cap at the end of this season.

Ariza, who fell out of favor with Knicks coach Larry Brown, was averaging only 4.6 points in 36 games for New York. He was a second-round pick by the Knicks (43rd overall) in 2004 after spending just one season at Southern Cal.

[natdang]

Isiah finally got something right!
Penny's pretty much done, so this is basically steve francis for Ariza... sweet deal!
(Though there will undoubtedly be drama between franchise, starbury, and larry brown)

nice catch on the UCLA thing.. GO BRUINS!