Tyson Chandler is the newest member of the New York Knicks. By the time the sign-and-trade deal reported earlier Saturday involving the Dallas Mavericks became official, it was expanded to include the Washington Wizards, who received Ronny Turiaf, a 2013 second-round pick and cash considerations from New York along with a 2012 second-round pick from Dallas.

"This is an important day for the New York Knicks," Knicks Interim GM Glen Grunwald said in a statement released by the team. "Signing a player of Tyson's caliber, with championship experience, to this roster, is an opportunity we could not pass up. His stellar play last season earned him league-wide recognition and helped lead his team to an NBA Championship."

Chandler's deal is believed to be worth $58 million over four years. He's averaged just 8.3 points per game over his 10-year career, but he's being paid for what he brings on the other end of the court.   

"Tyson will be the anchor to our defense," Knicks head coach Mike D'Antoni said. "The trio of Amar'e Stoudemire, Carmelo Anthony and Tyson makes one of the most formidable frontlines in the entire league."

The deal to send Turiaf to Washington, which New York needed to do in order to clear the cap space necessary to acquire Chandler, was originally expected to be a separate transaction. By combining the trade, the Wizards were able to acquire even more assets.

"Ronny brings us a tough, inside presence and we're looking forward to adding his defense and tenacity to our frontline," said Wizards President Ernie Grunfeld in a statement released by the team. "This trade brings another solid veteran to our team along with additional assets in the form of draft picks and allows us to maintain our financial flexibility moving forward." 

In addition to receiving Chandler, the Knicks received rights to Ahmad Nivins and Giorgos Printezis. Nivins and Printezis were second-round picks in 2009 and 2007, respectively, and have never played a single minute in the NBA. Their inclusion in this trade is simply a way to balance the books. The Mavericks received Andy Rautins from the Knicks and a 2012 protected second round pick from the Wizards.