Most headlines read "Knicks Accquire Tracy McGrady," but what they should read is "Knicks Clear an Additional $9.5 Million in Cap Space for 2010."

What a day. One of the most influential days in Knicks history might not be July 1st, 2010 anymore, it may now have turned to February 18th, 2010, the day the Knicks cleared enough cap room to sign two max players.

Yes LeBron got a new running mate in Jamison, but really, this will not sway his decision. No wonder Amare somewhat-publicly stated that he did not want to go to Cleveland. I mean, who in their right mind would not want to go play with LeBron James become the key piece to winning a championship- perhaps he had some information...

As Marc Berman put it: "Donnie Walsh is “all in” for this summer.

Walsh opened up another $9.3 million of salary-cap space — giving the Knicks a projected total of $32 million to play with — in acquiring former superstar Tracy McGrady and Kings backup point guard Sergio Rodriguez yesterday in a three-team blockbuster with the Rockets and Kings."

Mike Vaccaro writes:
"Though he never said as much, Walsh had a three-step plan to getting the Knicks where they needed to be in time for his third year on the job:

1. Blow up the foundation. This was done by jettisoning Isiah once and forever, by hiring D’Antoni, and by serving early notice that two full seasons would be set aside to sacrifice for what was necessary.

2. Clear out the decks. In other words, do precisely what he did yesterday. Make sure every nickel is available by the stroke of midnight July 1.

3. Sign two max-contract players. Which really means this: Get LeBron James’ name on a contract, and a sidekick to be named later.

And that, of course, is the part that, starting at 12:01:01 on July 1, will make what happened this week seem like a vacation. It is a very clear, crystal thing to be a Knicks fan now. Forget this year. Forget the draft, because there’s no first-round pick this year and there may be none in 2011 or 2012, too, after yesterday’s transactions.

Focus on one thing.

Focus on July 1, 2010. The day the Knicks are either reborn or given a blindfold, a cigarette, and a shove into the abyss."

Oh and a side note- he was able to move nuisance Nate Robinson to Boston, perhaps disrupting the chemistry in Boston for a second time (see Marbury 2009).

The countdown continues... 131 Days.