Recent news is that Donnie Walsh can trade/will trade Anthony Randolph for a first round pick. Interesting to note though that trading Randolph for one pick can be equivalent to trading him for two, something Walsh has also represented he can accomplish. Here’s how:
The Knicks cannot currently trade this year’s pick because Houston has the rights to their 2012 pick and according to the current collective bargaining agreement teams cannot trade future first round picks in consecutive years. Thus the Knicks cannot trade their 2011 pick or their 2013 pick.
But if Donnie Walsh can get a 2012 pick in a trade for Randolph then that pick replaces the pick the Knicks owe to Houston and the Knicks can trade this year’s pick and their 2013 pick.
Those picks could be useful in a trade for a star player…
[Special thanks to @Original_Ari who sought clarification on this point from the esteemed Larry Coon.]