The McGrady Experiment

Before we get into the on- and off-court implications of the Knicks' trio of deadline deals, I want to briefly note two Yankee-related stories. First, the Johnny Damon saga is finally over. The outfielder signed a one year, $8 million contract with the Tigers, the fifth different team Damon has played for (all in the American League). Mark down August 16 on the calendar -- Damon's first trip back to Yankee Stadium.

More relevant to Yankee fans is the reported signing of reliever Chan Ho Park to a one-year, $1.2 million deal. The veteran was a key cog in the Phillies bullpen last season, but his WHIP of 1.38 raises eyebrows (his blown save in Game 2 of the NLCS, however, was not his fault). Park should slide into a seventh-inning role in front of the loser of the Joba Chamberlain-Phil Hughes battle for the No. 5 starer slot. Once again grasping the short straw is David Robertson, who's gotta wonder what he has to do to move up in the 'pen.

OK then. As for Tracy McGrady...

...how about that Knicks debut? It's been clear for years that McGrady is a mercurial player who loafs when he's not happy. So his nonexistent season in Houston was hardly a benchmark for how he would fare in New York. But nobody could expected him to shake off the rust that fast, particularly against a surging Thunder team that has its own swingman superstar, Kevin Durant.

As Knicks losses go, this overtime defeat was about as good as it gets. On the court, it marked the debut of the most talented player to wear a New York uniform since Patrick Ewing (that's right, it's been a while). New York Times beat writer Howard Beck put it best when he wrote earlier this month, "On any given night, indeed on most nights, the best player on the court belongs to the opponent." With T-Mac now in orange and blue, that's not the case anymore. McGrady may not measure up to the NBA's best in game-to-game action, but the talent is undeniably there. Take tonight's game against the Bucks. Compare McGrady to Milwaukee leaders Brandon Jennings and Andrew Bogut on the basis of talent alone, and T-Mac comes out on top.

In the short run, of course, McGrady's addition is largely academic. The Knicks remain eight games out of the last playoff spot in the Eastern Conference with 28 games left. Even with T-Mac, a postseason berth seems unlikely. But lost in the shuffle of McGrady's dazzling debut was an answer he gave regarding his salary demands for next season.

The seven-time All-Star knows he could just be a short-term rental before the Knicks pursue players such as LeBron James or Dwyane Wade this summer, but said he would take a considerable pay cut from this season's $22.5 million salary to stay in New York if the Knicks got those types of players.

"I've made a lot of money over my career and I could retire right now and I could be fine financially. My kids can be fine when they get older. Money is not an issue for me," McGrady said.

"So if these guys were to bring in a LeBron, a D-Wade, along with a Chris Bosh or a [Amare] Stoudemire, I'd be a damn fool to not want to stay here. So I'm just telling you right now that I will definitely embrace the opportunity to be here. Money is not an issue."

By unloading Nate Robinson, Larry Hughes, Darko Milicic and Jared Jeffries, the Knicks dropped almost $10 million from their projected 2010-11 cap figure. That should give them enough cash to sign two free agents to maximum deals. But it's equally possible for them to sign one free agent to a max deal, another to a large deal, and T-Mac for a significant pay cut.

Yes, the free agent market is never a sure thing, and yes, the above scenario would mean jettisoning David Lee. But with LeBron James, Dwyane Wade, Chris Bosh, Amare Stoudemire, and Joe Johnson among the marquee free agent class, the prospect of adding two mega-stars to go with McGrady leaves me literally salivating (and not Eddy Curry next to the buffet line salivating).

We'll see how T-Mac plays out the season, and we'll see how GM Donnie Walsh does in arguably the deepest free agent pool of all time. But his Trading Day moves have given the Knicks flexibility come July 1. If nothing else, that should give Knicks fans a rare feeling: hope.