Donnie Walsh does not want to lock up players long term this offseason, and that said, he's going to use the mid-level exception and also explore sign and trade opportunities to land a point guard and some shot blocking help for the Knicks, the New York Post is reporting.

One potential target appears to be Monta Ellis of the Golden State Warriors.  For Ellis to become a member of the Knicks, he would have to be a sign and trade since Ellis is a restricted free agent, and the Warriors are sure to match any offer for the young guard.

Other options include Sebastian Telfair, Kyle Lowry, Chris Duhon, Keyon Dooling, Tyronn Lue, and Kirk Hinrich although some are not free agents and would need to be acquired via trade.

Memphis has a glut of guards now that they acquired O.J. Mayo from Minnesota while Chicago is in a similar predicament after striking it lucky and drafting Derrick Rose first overall.

Mike Miller was stunned to learn late Thursday night that he had been traded from the Grizzlies to the Timberwolves, according to The Memphis Commercial Appeal.

"As late as it came down, I was more surprised," Miller, who was startled by a call from his agent, said. "I was stunned. When I went to bed, I didn't think anything would happen."

Miller flew to Minneapolis on Friday night to meet with his new team.

"If things don't go well, there's got to be a shakeup and movement," Miller said. "When you're in a situation like I was, I'm proud to be talked about in trade rumors. That means you're an asset."

When the Knicks selected Italian forward Danilo Gallinari with the sixth pick, it may have signaled the end of David Lee's career as a Knick.

"I'm hearing the Knicks could be working on a deal with the Charlotte Bobcats to acquire point guard Raymond Felton for Lee," Frank Isola writes in his blog.

The Bobcats chose Texas point guard D.J. Augustin with the ninth pick.  Augustin's game is consistent with Larry Brown's blueprint for an orchestrating point guard.

When Mike D?Antoni coached the Phoenix Suns, he reportedly did not want Lee because of the forward's lack of shooting ability.

Isola also reports that the Knicks had spoken to the Memphis Grizzlies about trading Lee and Malik Rose for the fifth pick.

The Houston Rockets drafted Nicolas Batum with the 25th pick in the NBA draft but then turned around and traded the small forward to Portland, receiving Donte Green and Joey Dorsey in return, the Houston Chronicle is reporting.

Greene, a 6-9 forward, was chosen by the Memphis Grizzlies with the 28th pick in the first round while Dorsey was taken early in the second round with the No. 33 pick that was acquired from Portland.

In the end, it was separate deals that ended up completing a three-way transaction that sent Batum to the Trail Blazers, Darrell Arthur to the Grizzlies, and Greene and Dorsey to the Rockets, along with a second-round pick from the Grizzlies in 2009.

"We needed size, athleticism, and shooting," said Rockets General Manager Daryl Morey. "(Greene) has all of those things. He's a young kid, one year out of high school. He's a future bet. But when you're athletic and can shoot, that's a good place to start."

O.J. Mayo and Kevin Love didn't stay put for long as the Grizzlies and Timberwolves have reached an agreement on a trade involving the pair of recently-draft players.

Two sources confirmed to ESPN.com's Chad Ford late Thursday night that Minnesota will send the draft rights to Mayo, Marko Jaric, Antoine Walker, and Greg Buckner to Memphis in exchange for the right to Love, Mike Miller, Brian Cardinal, and Jason Collins.

The Wolves took Mayo with the third overall pick while the Grizzlies grabbed Love with the fifth overall selection.

The Grizzlies are looking to trade down, according to Chad Ford of ESPN.

Memphis is in talks about a trade that would send the No. 5 pick to New Jersey for the No. 10 pick and a future first-round pick.

The Blazers are also interested in the Grizzlies' pick and have a number of assets, including Travis Outlaw, that they can entice Memphis with. The Blazers are reportedly most interested in Russell Westbrook and Kevin Love.

Charlotte appears to be closing in on a trade with Memphis involving pick 5, with their potential target being either Kevin Love or Russell Westbrook, the New York Post is reporting.

Could Eric Gordon be off the draft board when the New York Knicks pick at position 6?

According to the New York Daily News, there is speculation that either Seattle, who is picking at 4, or Memphis, who is picking at 5, will select Gordon.

If the Knicks cannot trade up to take O.J. Mayo, it is believed that they will choose out of a group including Italian small forward Danilo Gallinari, Gordon, UCLA guard Russell Westbrook and Arizona guard Jerryd Bayless.

Some in the Knicks organization have Gallinari rated above Gordon.

In the past few days, David Lee has been included in trade discussions that would give the Knicks another pick in the draft to go with their selection at number six.  

The Knicks appear to be trying put themselves in position to grab O.J. Mayo in the draft.

The Grizzlies are considering a package that would net them Lee and send the Knicks the number five pick.  It is likely that Mayo will be off the board at five, too, so it could be that Donnie Walsh is looking to package these two picks to acquire a single pick with which he can select Mayo.

Mayo is from West Virginia, as is Mike D'Antoni, and he seems to welcome the chance to play in the new Knick coach's up-tempo system.

"It definitely would be fun playing for Coach D'Antoni," Mayo said Wednesday. "But I'll be happy wherever I end up."

If the Knicks cannot reel in Mayo and Russell Westbrook is not available at pick six, they might opt to select Italian forward Danilo Gallinari.

The Grizzlies are looking to acquire the No. 2 pick from the Miami Heat but won't offer point guard Mike Conley in any offer, according to The Memphis Commercial Appeal.

They would target Michael Beasley with the second overall selection.

The Grizzlies and Heat have talked about swapping first-round picks. In a rumored deal Miami would acquire Mike Miller, Kyle Lowry, and the No. 5 pick for the second selection, but Memphis countered with Miller, Lowry, and the No. 28 pick.

According to ESPN.com, the Heat want the Grizzlies to send Miller, Conley, and the No. 5 pick for the No. 2 pick and Daequan Cook.