Chandler arrives in 3-team deal

It's official. Tyson Chandler is a Knick.

The team acquired Chandler via a sign-and-trade as part of a three-team deal. The Knicks sent veteran center Ronny Turiaf, cash considerations and 2013 second round pick to Washington. They also dealt second-year guard Andy Rautins to Dallas. Dallas sent a second-round 2012 draft choice to Washington and the draft rights to Ahmad Nivins and Giorgos Printezis to New York. Washington also sent a future second round draft choice to Dallas.

In addition, to create enough cap space to sign Chandler, the Knicks waived veteran guard Chauncey Billups, designating him as a club's amnesty player. Billups and his $14.2 million contract will not count against the Knicks salary cap.

"This is an important day for the New York Knicks," acting general manager Glen Grunwald said in a statement. "Signing a player of Tyson's caliber, with championship experience, to this roster, is an opportunity we could not pass up."

Chandler opted to sign with the Knicks after being heavily courted by the Golden State Warriors and Houston Rockets among other teams.

The sign-and-trade gives Dallas a sizeable trade exception.

The Knicks had to move Turiaf (scheduled to make $4.8 million this season) and Billups to create cap space to sign Chandler. According to the New York Times, the terms of Chandler's deal are believed to be in the range of $58 million for four years.

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