The Knicks also received a first-round draft pick and an undisclosed amount of cash from the Raptors in a deal involving dismal teams who played each other Friday night in Toronto.
Rose and Davis did not play in the game -- Knicks coach Larry Brown thought it would be unfair to throw Rose into action immediately. He sat on New York's bench wearing a suit during the Raptors' 104-90 victory.
"He's exactly what we need," Brown said before the game. "I think it's a no-brainer. I haven't seen a drop-off in his game. We don't have enough ball-handlers, guys that have experience back there."
Brown, who coached Rose for one season with the Indiana Pacers, said Rose will start at small forward for the Knicks.
Rose's name was mentioned in trade rumors all season, but he had been difficult to deal because he is making $15.7 million this season and he has an option at $16.9 million next season.
Still, the Knicks have long been interested in him, even though they already have the NBA's highest payroll. And they couldn't wait much longer to make a move after losing four straight and nine of 10 to fall behind Toronto into last place in the Atlantic Division.
"I can't wait to play in front of the many Knicks fans, friends
and family in the NYC area and very much look forward to being a
part of the Knicks organization," Rose said in a statement. "Ask
any athlete. One of his dreams is to play in New York wearing a
Knick uniform. It's also always been a dream of mine."
New York's Stephon Marbury welcomed the trade.
"This will definitely help. He plays with toughness and he
knows how to play," Marbury said.
The Knicks' slide began with a 129-103 loss to Toronto on Jan.
15 when Rose showcased his ability to post up smaller forwards by
scoring a season-high 31 points.
Davis' contract expires after this season, and the Raptors get
some needed salary-cap relief by parting ways with Rose.
It's the second time the veteran forwards have been involved in
the same trade. Davis spent 4½ seasons in Toronto before the
Raptors traded him to Chicago in 2003.
The pick the Raptors sent to New York originally belonged to
Denver and is not lottery protected. The Knicks, who had given up
their first-round pick last offseason in a trade with the Bulls for
Eddy Curry and Davis, also own San Antonio's first-round pick.
Interim Raptors general manager Wayne Embry made the deal just
more than a week after the team fired GM Rob Babcock.
Embry said the teams had been talking about the trade for the
The trade gives Toronto at least $10 million in salary cap room
this summer and a better shot of resigning guard Mike James, who is
expected to opt out of his contract.
The Raptors will also attempt to sign forward Chris Bosh to a
long-term extension this summer.
"Cap room is very important to a franchise that's in
transition," Embry said. "It's much easier to build because it
gives you a lot of flexibility."
The trade came a day after Davis' wife, Kendra, was charged with
misdemeanor battery for allegedly throwing a cup of coffee at a
woman during a traffic dispute last fall.
Antonio Davis served a five-game suspension last month for
climbing into the stands after his wife got into a confrontation
with a fan in Chicago.
It is the first trade the Knicks have made since president Isiah
Thomas was sued for sexual harassment by a former team employee.