The New York Knicks seemed to be losing ground in the Eastern Conference with the Brooklyn Nets' acquisition of Joe Johnson and pursuit of Dwight Howard, and the Miami Heat's signing of Ray Allen. After their surprise deal with Jason Kidd, the Knicks have picked up another veteran, Marcus Camby, in a sign-and-trade.
Yahoo!'s Adrian Wojnarowski reports that the Knicks reached a deal with Houston to acquire Camby, who spent 2011-12 with the Portland Trail Blazers and Rockets, and will sign him to another contract worth $12.2 million over three years.
New York will send Toney Douglas, Josh Harrellson, Jerome Jordan, second-round picks in 2014 and 2015, and cash to the Rockets for Camby, who remains one of the NBA's best rebounders despite his age. Camby turned 38 in March, but pulled down 9.0 boards per game in 2011-12 in less than 23 minutes of action per contest.
CBS Sports' Ken Berger notes that Harrellson and Jordan can both be waived by the Rockets with no penalty, thanks to their non-guaranteed contracts.