Tracy McGrady is headed to the Knicks as part of a three-team deal with the Houston Rockets and Kings. This one is getting messy, but the bottom line looks like it will be T-Mac and Sergio Rodriguez in New York; Kevin Martin, Jared Jeffries, Hilton Armstrong and Jordan Hill to Houston and Carl Landry, Joey Dorsey and Larry Hughes in Sacramento. We’re adding Donte Greene and Francisco Garcia off this news, and giving T-Mac a look in deep formats. We’re not sure yet if coach Mike D’Antoni is planning on giving McGrady real minutes.

Elsewhere around the NBA:

Chicago: The Bulls have traded Tyrus Thomas to the Charlotte Bobcats in exchange for Flip Murray, Acie Law and a future first-round pick. This is huge news for Tyrus Thomas owners. The Bobcats’ frontcourt is thin and a fresh start in Charlotte could lead to 30+ minutes a game for the uber-athletic shot blocker.

New York: Beat writer Howard Beck says it’s “very likely” that Sergio Rodriguez will start for the Knicks one he gets settled. Consider adding Rodriguez in deep-to-medium sized formats. Coach Mike D’Antoni is looking for an excuse to bench Chris Duhon and Rodriguez is capable of pushing the ball and shooting better than the incumbent. With 30+ minutes in this system, Rodriguez will put up solid assist and points numbers.

Memphis: Ronnie Brewer has been traded to Memphis Grizzlies in exchange for a protected first-round draft pick in 2011. It’s a big blow to Brewer’s already declining value. He’ll go from a starter in Utah to a strict backup behind Rudy Gay and O.J. Mayo in Memphis.

Philadelphia: The Bucks have agreed to trade Jodie Meeks and Francisco Elson to the 76ers in exchange for Royal Ivey, a second-round pick and Primoz Brezec. The Sixers always liked Meeks, ever since his predraft workout with the team. He’s a true shooting guard with decent size, something they’ve been grasping at for years. Meeks won’t have any value right away, but he could end up as the starter at that spot in 2010-11.

Miami: Dwyane Wade (left calf) is almost certainly out of the Miami Heat’s next two games, but the injury is not considered serious. This is actually a positive report on Wade. He’s listed as day-to-day with a strain, which is great news considering Wade said he heard a “pop” on Wednesday night. This kind of injury can take at least two weeks to heal, but the Heat seem confident their franchise player can return well before that. He’s in a walking boot for now and is not using crutches.