The Knicks will send Steve Novak, Marcus Camby, Quentin Richardson and a 2016 first-round draft pick to the Raptors in exchange for Bargnani, a jump-shooting big man who has been considered a bust since being taken with the No. 1 overall pick in 2006. Richardson, a free agent, will go to Toronto in a sign-and-trade deal. The Knicks are also giving up second-round picks in 2014 and 2017.
The deal cannot become official until July 10, when the league’s annual moratorium on signings and trades is lifted.