The Knicks have traded JR Smith and Iman Shumpert according to reports. A three-way deal with the Knicks, Thunder, and Cavaliers appears to involve some mix of Smith, Shumpert, Samuel Dalembert, Lou Amundson, Dion Waiters, Reggie Jackson, and probably more. More details to follow, but it appears that JR Smith (And his $7 Million player option for next year) is out of New York, and probably on his way to team up with LeBron, Love, and Kyrie in Cleveland. More recent reports have Shumpert (Who the Knicks were expected to lose as a free agent after this season) in the deal as well.  Reggie Jackson is now expected to go to the Knicks in the deal.  -Tommy Rothman

UPDATE: It is now unclear if Jackson is in the deal. However, Samuel Dalembert IS in the deal.

*Story will be updated*