Done Deal! Knicks land Carmelo Anthony in blockbuster deal with Nuggets & Wolves

After months of speculation, and a very early blog post this morning on it, Carmelo Anthony has been traded to the New York Knicks as part of a three-way deal between New York, the Denver Nuggets and the Minnesota Timberwolves. Anthony, who was born in Brooklyn, NY and was a member of Syracuse University's 2003 Championship, is averaging 25.5 PPG.

"I'm glad its over," Nuggets coach George Karl said, according to the newspaper. "I'm glad it's an opportunity to reinvent. I think everybody handled it as classy as you could handle it. There's some sadness to it, there always will be." (ESPN)

The deal, which was completed earlier this evening, is a blockbuster deal. Anthony, who will sign his three-year, $65 million extension, is headed to New York along with Chauncey Billups, Shelden Williams, Renaldo Balkman, and Anthony Carter. In return, the Nuggets will acquire Danilo Gallinari, Raymond Felton, Wilson Chandler, Timofey Mozgov, the Knicks' 2014 first-round pick, two second-round picks, and $3 million. The third team involved, the Timberwolves, will acquire Anthony Randolph and Eddy Curry from the Knicks for Corey Brewer.

Broken Down:

KNICKS GET: Carmelo Anthony, Chauncey Billups, Shelden Williams, Renaldo Balkman, Anthony Carter, Corey Brewer
NUGGETS GET: Danilo Gallinari, Raymond Felton, Wilson Chandler, Timofey Mozgov, the Knicks' 2014 first-round pick, two second-round picks, and $3 million
WOLVES GET: Anthony Randolph, Eddy Curry (expiring contract)

This is a good move for all sides. It's hard to say who got the better end of the deal. The Knicks DID get the four-time All-Star in Anthony, but the Nuggets received an overhaul of young talent in Gallinari and Mozgov, as well as the draft picks. However, the Knicks also got three more years of Anthony, due to the extension he has signed since being traded to the Knicks, rather than the half year they would have had, had he not asked for an extension. I think this is really a deal one can only judge in time. The play of Anthony in the pressure-packed city of New York vs. the unproven talents of Mozgov and Gallinari will shape the decision as to who got the better end of the deal. As I said, in time.

This morning, I wrote about how the Knicks should go all-in and trade their chips for Anthony. Well, they did. The roadblock that was Timofey Mozgov was cleared, as the Knicks ultimately - after holding him out of any potential deal - sacrificed Mozgov, no matter what his future potential may be, for the sure proven star that is Carmelo Anthony.

This is a win-now move the Knicks. Not only do they acquire Anthony's talents, but now they have a better chance of signing another superstar such as Chris Paul or Deron Williams during the 2012 free agent class. Great players will now be intrigued by the opportunity to play in New York, not just because of the aura of Madison Square Garden, but because now basketball is back in New York.

Yes, trading four starters is going to hurt, but when you replace them with Anthony, you lick your wounds a lot easier. It's going to be different without the strong, resurgent play of Felton (17.1 PPG), who arguably could have been an All-Star this year. It's going to be hard to watch both Gallinari (who's showing he's evolving already at 15.9 PPG) and Mozgov mature and execute their potential in a Nuggets uniform. The rag-tag, scrap-heap, chemistry strong, fun-loving, surprising Knick team prior to the All-Star break is no more.

But it's going to be fun to watch Anthony and Amar'e Stoudemire start the next Knick dynasty.

The New York Knicks are back.

(picture credit of Anthony in Knicks uniform to ESPN)