According to Adrian Wojarnowski, the agent of Chris Paul has informed the New Orleans Hornets that he will not sign an extension and wants to play for New York. iamagm.com is reporting that the Hornets are highly motivated to make a deal asap.
What makes this so interesting is the fact that during the lockout, the NBA continually preached competitive balance. Now, as the owners of the New Orleans Hornets, they will be forced to trade away their All-star and gold medal winning point guard to New York.
This is a no-win situation for the Hornets. The Knicks have zero assets, aside from Amare, Melo, and Billups. I assume the Knicks will offer Billups, Landry Fields and the rest of the pu pu platter. More issues: the Knicks have no draft picks to offer having already sent them to the Nuggets and the NBA not allowing teams to trade first rounders in consecutive years.
If the Hornets hold firm and let CP3 walk, the most the Knicks would be able to offer is a 4-year $55.5 million deal. Stay tuned.