New York Knicks Trade For Raptors' Andrea Bargnani: Knicks Give Up Novak, Camby And 2016 1st-Round Draft Pick

New York Knicks trade for Andrea Bargnani of the Toronto Raptors Sunday. The Knicks trade away 3-point specialist Steve Novak, back-up veteran Marcus Camby and a 2016 first-round draft pick.

Rumors surfaced all day of a New York Knicks trade until it was an official trade that was reported by the New York Times on Sunday. The trade gives the Knicks some help in the forward positions. Bargnani, 27, averaged 12.7 points and 3.7 rebounds in Toronto. He played 35 games because of an elbow injury.

Involved in the New York Knicks trade with Toronto, the Raptors receive Marcus Camby, will make $4.4 million in 2013-14 and $4.2 million in 2014-15, although only $1 million of that figure is guaranteed. Novak signed a four-year, $15 million contract last summer and didn't score more than seven points a game, but was a streaky three-point shooter in New York.

The 2016 first-round draft pick could have more value than it appears because the Knicks could potentially lose their star in Carmelo Anthony to free agency.

Bargnani was the first-overall pick in the 2006 draft by the Raptors. Next season, the 27-year-old from Italy will receive $10.8 million and the season after, an $11.5 million option.

Yahoo! Sports also reported the agreement Sunday, noting that two future second-round picks will also go from New York to Toronto.

The trade can't be made official until July as per league rules.