The Knicks and Blazers agreed to a sign-and-trade involving Raymond Felton on Saturday, but it will become official on Monday.

New York will receive Felton and Kurt Thomas, while Portland will acquire Jared Jeffries, Dan Gadzuric and the draft rights to Kostas Papanikolaou and Georgios Printezis. The Knicks will pay the $1.35 million salary to Jeffries.

Gadzuric will be waived by the Blazers.