As first reported by RealGm.com, the Knicks and Suns agreed to their second trade in 17 months with Kurt Thomas being shipped to Phoenix for 6-6 swingman Quentin Richardson and a protected, future first-round pick.

The first-round pick can be used by the Knicks at the earliest in 2007 but is protected beyond the lottery. The delay in announcing the deal involved a minor insurance issue regarding a prior Richardson back injury that's not likely to kill the deal.

For months, Isiah Thomas has said he's planning as if Allan Houston is not on the team next season. A new collective bargaining agreement clause paves the way for the potential waiving of the arthritic-kneed Houston. The Knicks would be liable for the two years and $40 million left on his contract but would not have to pay additional dollar-for-dollar luxury tax on the salary (another $40M). The Knicks can't approach Houston with the idea until mid-July when the CBA is signed.

Richardson, who signed a five-year, $37 million deal last July, will likely start at shooting guard with Jamal Crawford going to the bench. With the trade, the Knicks took on $15 million in future salary.