LAL sell #1 pick to NYN - done per ESPN

New York Knicks officials are telling peers they have purchased the Lakers’ No. 29 pick.

The Knicks are planning to draft a point guard with their choice at No. 8, and sources say they’re targeting a big man at 29.

Lakers GM Mitch Kupchak said on Wednesday the team hoped to sell its pick and use to money to help re-sign free agents Lamar Odom and Trevor Ariza.

The NBA champion Los Angeles Lakers have sold the No. 29 pick in the first round of the NBA draft to the New York Knicks for $3 million, multiple sources told ESPN.com's Andy Katz.

westcoast21 wrote:We didn't trade. We sold the pick. I would think its two different things right? Or am I wrong?

lakers_09tv wrote:http://sports.espn.go.com/nba/news/story?id=4285133

West wrote:

lakers_09tv wrote:http://sports.espn.go.com/nba/news/story?id=4285133

Thx for link. 3 million is a tremendous return for #29. The 3M earned plus the lack of guaranteed money going out is win/win. Mitch is really hitting his stride, I hope he can unload a couple Xpirings before too long...

SignPippenNow wrote:what if Mitch has some vet PG free agent in mind who is set to give the Lakers a huge hometown discount? I can hope can't I? There is some good FA PGs out there and maybe Mitch by also wanting to sell Farmar for money has one in mind in addition to his 3 FAs we all know he is trying to bring back. Thoughts anyone, is this at least remotely possible?

Jonathan Givony of Draft Express wrote:Look for the Knicks to use the #29 pick to select Jack McClinton. They are still exploring their options there, trying to figure out who might be on the board, and McClinton may some suitors a little bit earlier in the first round potentially, but that’s clearly who Mike D’Antoni would like them to pick. They just worked him out a few days ago when they brought Jrue Holiday in. If Tyreke Evans falls to the 8th pick, the two could definitely share the same backcourt, with Evans handling the point guard duties and McClinton slated to defend the opposing team’s smaller guard.

Denver may have come away disappointed not to have acquired the Lakers pick, as they are apparently looking at Marcus Thornton and Darren Collison as two potential draft picks in the late first round. They may be able to acquire either one at #34, but will look to Chicago’s pick at 26, as its rumored to be available.

In return, L.A. will get a 2011 second-round pick and $3 million. The Lakers still hold the 42nd and 59th selections overall in tonight's draft.

SignPippenNow wrote:

West wrote:

lakers_09tv wrote:http://sports.espn.go.com/nba/news/story?id=4285133

Thx for link. 3 million is a tremendous return for #29. The 3M earned plus the lack of guaranteed money going out is win/win. Mitch is really hitting his stride, I hope he can unload a couple Xpirings before too long...

Unload a couple of expirings? For what? Better get some players back instead of selling Farmar like has been reported. Not using draft picks and selling players will leave this team very thin with an injury or two next season. The expirings such as Adam and Farmar need to be used to get a PG who can play or a player. Drew or someone goes down and the 13-man roster gets thin pretty fast. Someone will say if that happens LA will sign someone at that time. Yeah and Phil won't play that player either since he doesn't know the triangle. I have no problem selling this pick, but to sell Farmar too is wrong. If first pick was worth 3 million, what would it and Farmar brought back as far as maybe a better PG?

If the Lakers sold their first-round pick, they would get a future pick in return, as well as cash. In today's market a 29th pick probably would fetch $500,000 to $1 million.