The Carmelo drama finally ended tonight as Carmelo Anthony was traded from the Denver Nuggets to the New York Knicks. The deal comes less than 96 hours before the trade deadline. Terms of the deal after the jump.

‘Melo and Billups are both headed to New York

It took quite a long time for the deal to get done, but at last, Carmelo Anthony is a New York Knick. Here are the terms of the deal:

Knicks Get:

  • Carmelo Anthony
  • Chauncey Billups
  • Renaldo Balkman
  • Shelden Williams

Nuggets Get:

  • Danilo Gallinari
  • Raymond Felton
  • Wilson Chandler
  • Timofey Mozgov
  • Knicks 2014 1st round draft pick
  • Warriors 2012 and 2013 2nd round draft picks
  • $3 million cash

The amount of players involved shows exactly why it took so long for the deal to get done. The Knicks gave up four starters (Felton, Gallinari, Chandler, Mozgov) and will have to totally rebuild there bench, but Billups, Amare, and ‘Melo is a huge upgrade to the previous starting group. You can rebuild a bench, but it’s tough to find a 2nd star to play alongside of Amare. Here’s my projected starting five for the rest of the season in New York:

PG: Chauncey Billups

SG: Landry Fields

SF: Carmelo Anthony

PF: Amare Stoudemire

C: Ronny Turiaf (Rasheed Wallace and/or Earl Barron could sign with Knicks in coming days)

This isn’t a trade for right now, but for the future. They have two stars now and that’s much better than the 28-26 Knicks we saw pre-All-Star break. Let’s go Knicks.