The Knicks would get a package centered around McGrady in exchange for Jared Jeffries, Larry Hughes, Jordan Hill and draft pick considerations (like swapping picks in the 2011 draft). The Bulls are apparently in on the McGrady bidding too, but most sources say the Knicks are a lot closer.
I have no idea what McGrady has left in the tank, but in the Knicks eyes it really doesn't matter. All they are concerned about is freeing up cap space for this summer, so that can sign 2 max salary type of players. The Knicks apparently are so determined to complete their plan of creating enough flexibility this summer that they are willing to include their own 2012 first-round pick (they don't have a 2010 pick, because they are fucking stupid and traded for Marbury).
This story should develop throughout the day, so we'll keep you posted...
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