The Phoenix Suns have completed a sign-and-trade to send ex-power forward Amare Stoudemire to the New York Knicks in exchange for an approximately $16.5 million traded player exception (TPE) and other considerations, rumored to be a conditional second-round draft pick.
The Suns then used a portion of that TPE to acquire forward Hakim Warrick from the Chicago Bulls in a second sign-and-trade. The Suns will send over their 2011 second-round pick to complete the deal.
Stoudemire’s new deal is for five years and approximately $100 million. Warrick was signed to a four-year, $18 million deal by the Suns, with the fourth year being a team option.