The Knicks added some money and back-of-the-roster intrigue, along with swapping a few draft rights, in a small three-way deal on Monday.
— and then quickly waived — swingman Denzel Valentine, who went from the Cavaliers to the Lakers to the Knicks in the deal that sent Rajon Rondo from Los Angeles to Cleveland. For the few hours Valentine was on the Knicks’ roster, they cleared space by waiving guard Wayne Selden, who had appeared in three games this season.
By jumping into the trade and momentarily acquiring Valentine, the Knicks picked up cash consideration, which reportedly amounted to about $1.1 million — a bit more than Valentine was owed, so a fiscally sound decision — and exchanged some future draft rights that likely will not pan out to much. In the trade, the Knicks sent the rights to Louis Labeyrie — a 2014 second-round pick from France, selected by the Phil Jackson regime — to the Lakers in exchange for the rights to Wang Zhelin and Brad Newley. All of the international players are unlikely to make the jump to the NBA.Zhelin, a 2016 second-round pick, is playing in the Chinese Basketball Association, while Newley, 36, was a 2007 second-round pick who is playing in Australia’s National Basketball League.
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