Sources: Francis dealt to Knicks for Penny, Ariza By Chris Sheridan
ESPN Insider
Steve Francis is headed to New York under a deal agreed to Wednesday by the Knicks and the Orlando Magic.
The teams agreed to a trade of Francis for Penny Hardaway and Trevor Ariza, two league sources with knowledge of the deal told ESPN.com.
The trade was expected to be announced later Wednesday afternoon after being called in to the league office.
In New York, Francis will be paired with Stephon Marbury as the highest-paid backcourt duo in the NBA.
The Knicks were still talking with several other clubs as team president Isiah Thomas worked at remaking a roster that has stumbled to the league's second-worst record, 15-37.
For the Magic, the trade will provide salary cap relief to a franchise that can now go further beneath the cap than any of the league's 30 teams in the summer of 2007 when a bumper crop of free agents will be on the market, giving Orlando several options in figuring out how to rebuild around 20-year-old power forward Dwight Howard.
Newsday - Steve Francis' arrival at the Garden also likely signals the end of Jamal Crawford's Knicks career.
Francis is likely to assume Crawford's shooting guard position, and Crawford could be dealt to Denver for backup point guard Earl Watson by Thursday's 3 p.m. NBA trade deadline.
Francis has chosen a number which is familiar to Knick fans everywhere, the #8 jersey vacated by fan favorite Latrell Sprewell a few seasons back.
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