The New York Knicks finalized a trade for power forward Andrea Bargnani, ESPN reported Monday.
The deal cannot be made official until July 10 when the league's moratorium on free-agent signings and trades is lifted.
The Knicks will send guard Steve Novak, center Marcus Camby, forward Quentin Richardson, a 2016 first-round pick and second-round picks in 2014 and 2017 to the Toronto Raptors for Bargnani.
The two sides were unable to complete the sign-and-trade deal Sunday night so the Knicks added Richardson on Monday morning to satisfy league trade requirements. Camby is back where he started his career but he did not sound happy about it. The Raptors drafted him No. 2 overall in 1996.
"It's unfortunate that I wasn't given a meaningful opportunity to contribute last season in New York," he said in a statement. "I was really looking forward to the upcoming year as a chance to show the organization what they missed out on last year, and pushing our team towards the Finals.
"I have nothing but positive things to say about the city of Toronto and its great fans, having been drafted by the Raptors 17 years ago. Given that my goal at this point in my career is to have a shot at a championship, however, I'll have to evaluate my options going forward. I've enjoyed a great career and under the right circumstances I hope to continue making an impact in the league."
Bargnani's contract expires in 2015, which could give the Knicks salary-cap flexibility if he leaves as a free agent. Camby and Novak's salaries combine for about $8.7 million while Bargnani is owed $23 million over the next two years. He will also receive a $500,000 trade bonus.
The salaries of forward Carmelo Anthony, center Tyson Chandler and forward-center Amar'e Stoudemire also come off the books if they leave via free agency or trade.
The Knicks are also weighing their options with shooting guard J.R. Smith, the league's Sixth Man of the Year. They can only give the free agent a $5.58 million "early Bird rights" exception.
Bargnani has missed 98 games over the two seasons with injuries. He had a sprained right elbow last season.
The 7-foot Bargnani, the first overall pick in the 2006 draft, averaged 12.7 points and 3.7 rebounds in 35 games for Toronto last season. He hit 39.9 percent of his field-goal attempts.