Knicks Close to Trading Kristaps Porzingis to the Mavericks for Dennis Smith Jr.

The Knicks have agreed to trade Kristaps Porzingis, the biggest star on a chronically failing team, to the Dallas Mavericks, two people with knowledge of the transaction told The New York Times.

The Knicks and Mavericks are working to finalize the trade Thursday, according to the people, who were not authorized to discuss it publicly.

Dallas agreed to take on the contracts of Tim Hardaway Jr. and Courtney Lee to facilitate the acquisition of Porzingis, according to the people. The Knicks are poised to receive Dennis Smith Jr., the prized second-year guard, from Dallas and future first-round draft compensation, as well as the expiring contracts of DeAndre Jordan and Wesley Matthews.

The Knicks, by including the contracts of Hardaway and Lee, will clear the requisite salary-cap space this summer to pursue two maximum contract free agents, while Dallas will be able to pair Porzingis — who is scheduled to become a restricted free agent in July — with its star rookie Luka Doncic.

This is a developing story and will be updated.

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