Hoops Nation

According to Jordan Schultz, a sports columnist for The Huffington Post, sources have confirmed that the Knicks are “on verge” of trading for Marcus Camby. The sign-and-trade will send Toney Douglas to the Houston Rockets in exchange for Marcus Camby. Other Knicks that might be sent to Houston are Josh Harrelson, Dan Gadzuric and Jerome Jordan.

Nothing is official as of now, but stay tuned for more updates.

Update via NYTimes.com:

The Knicks acquired 38-year-old Marcus Camby in a sign-and-trade deal with the Houston Rockets, with Camby agreeing to a three-year, $13.2 million contract, $10 million of which is guaranteed. The Rockets will receive Toney Douglas, Josh Harrellson, Jerome Jordan and second-round picks in 2014 and 2015. The Knicks also sent the Rockets $2 million.