Source: Knicks suggest dealing Randolph to Memphis

Updated: September 5, 2008, 1:41 PM ET
By Andrew Marchand | ESPN.com

The Knicks have a trade proposal on the table with the Memphis Grizzlies that would see Darko Milicic and Marko Jaric dealt to New York in exchange for Zach Randolph.

An executive with knowledge of the trade talks said Friday that Knicks president Donnie Walsh initiated the Randolph-to-Memphis talks with the Grizzlies recently and it's up to Walsh to sign off on the deal. But it appears Walsh has cooled to the idea of trading his player, the executive said.

A Knicks spokesman declined comment Friday.

Milicic is reportedly owed $14.5 million over the next two seasons, and Jaric will make $21.3 million the next three seasons. The Knicks want to trade Randoph because his contract runs through 2010-11. He will be paid nearly $48 million over those three seasons.

The move would help the Knicks with their salary cap. It has been widely perceived that their goal is get under the cap before the summer of 2010 so they can make a run at LeBron James and other high-profile free agents who will hit the market that offseason.

Andrew Marchand is the managing editor of 1050 ESPN Radio in New York.

Andrew Marchand is a senior writer for ESPNNewYork. He also regularly contributes to SportsCenter, Baseball Tonight, ESPNews, ESPN New York 98.7 FM and ESPN Radio. He joined ESPN in 2007 after nine years at the New York Post. Follow Andrew on Twitter »