New York Knicks Tank 2015: Trade JR Smith, Iman Shumpert To Cavs In 3-Team Swap; Tie Franchise Record For Most Consecutive Losses

The New York Knicks are seemingly giving up on 2015 and have engaged in a three-team trade with LeBron James' Cleveland Cavaliers and the Oklahoma City Thunder. The Knicks sent guards JR Smith and Iman Shumpert to the Cavs, who shipped former No. 4 overall draft pick Dion Waiters to OKC. The Thunder in turn sent a first round draft pick to the Cavs, while the Knicks received Alex Kirk, Lou Amundson and a 2019 second round pick from the Cavs, and Lance Thomas from OKC. So... as the Knicks lost a franchise record-tying 12th straight game to the Memphis Grizzlies last night, what does that mean?

Says ESPN's Brian Windhorst: "The Cavs are attempting to bolster their bench with the trade by adding Smith, a mercurial shooter, and Shumpert, who specializes in wing defense that the Cavs badly need. The Knicks had been attempting to trade both for some time."

He added that "With Waiters, the Thunder are adding some scoring off the bench and providing insurance for Reggie Jackson."

According to the ESPN report, NBA MVP Kevin Durant told reporters "I'm excited about bringing Dion aboard. A guy that has a lot of toughness. Being from the East Coast, I know a lot about Philadelphia, South Philly, where he comes from. Those guys are tough, and they play with an edge. And that's what we need here."

It's official: @dionwaiters3 joins OKC, @TheRealJRSmith and @I_Am_Iman moves to Cleveland https://t.co/QDdIkwxNBR pic.twitter.com/zdxq9qMdEh

— NBA.com (@NBAcom) January 6, 2015

For the James Dolan-owned, Phil Jackson-run Knicks, as CBS Sports's Ken Berger says, "The 5-31 Knicks aren't going anywhere this season, but they shaved another $6.4 million in cap room this summer, giving them about $30 million in room to go free-agent shopping. (They'll likely waive Amundson and Kirk once the deal goes through.)" The team also waived Haitian center Samuel Dalembert.

CBS Sports's James Herbert graded the trade as a B+ for the Knicks, saying "To turn this around, Jackson needs cap space and draft picks. The Knicks should be even worse now because of this, and if the goal is to get a good pick, that's great."

For OKC, he said, it was 'B', calling it "low risk, high-reward", while for the Cavs, it was 'B' trade, with Herbert saying that Cavs GM David Griffin "is trying to win now, and Shumpert-Smith combo probably makes his team better in the short-term."

Either way, it's the end of an era in New York, and sure sign that Phil Jackson is tanking 2015 for the highest possible NBA draft pick while also clearing the maximum possible cap room for this coming offseason. Ah, JR. Best of luck with those "trying to get the pipe" in Ohio.

Still, as he posted to his instagram, sounds like he's genuinely sad to be leaving Carmelo and the Knicks.

I want to thank Mr. Dolan and the Knicks organization for giving me the opportunity to play for such a storied franchise over the past few seasons. I want to thank my teammates for their support and guidance. Most importantly, I want thank the fans of New York who are some of the most passionate basketball fans in the world. Playing in my hometown has been incredibly special and I will be forever grateful for having had the chance to wear a Knicks uniform. Though I look forward to starting a new chapter in Cleveland to join some of the best talent in the game in the quest for an NBA Championship, this great experience in New York will always stay with me. Thank you again, fans. Your support means the world.

A photo posted by JR Smith (@teamswish) on Jan 1, 2015 at 7:01am PST

Same for Shump:

All I can say is thank you to New York. For every opportunity and valuable lesson I've learned in my time spent there. Thank you to the @nyknicks for being a first class organization and thank you to the fans for being insanely in love with the franchise. Support is everything. Love is love. One last toast to the #knickstape. Sometimes the business side of the game hurts...Hope the guys can turn it around. Off to #Cleveland #post90 #kidz

A photo posted by iMan Shumpert (@imanshumpertthe1st) on Jan 1, 2015 at 7:49am PST

What do you think? Who won this trade? OKC? The Knicks? The Cavs? Will JR and LeBron be able to co-exist?