After winning the 2011 NBA title with Chandler manning the middle, Dallas surprisingly let him leave for New York. Since then the mostly-aging Mavs have struggled to contend, as Chandler provided the defensive anchor needed to win in the playoffs and in the big, tough Western Conference. Clearly the Mavs are rectifying the situation by bringing him back here, and this move should indeed make them a true contender again. Felton is a downgrade from the efficient Calderon but may turn things around with the change of scenery.

New York saves some money here by unloading the contracts of Chandler and Felton, but this deal also raises question marks about the Knicks' short-term future. Chandler was a key player for them, and with him gone they won't be as competitive (even if superstar Carmelo Anthony re-signs). Newcomer Dalembert is a solid starter for spurts, but he's not the elite post defender Chandler is. Meanwhile Calderon is an underrated offensive catalyst (and an upgrade over Felton), and Larkin may prove the steal of this deal (and should be New York's starter in a couple of years). Ellington seems a throw-in for salary-matching purposes.

Chandler is a great defensive stopper but not a great fantasy option, so his value doesn't change much as a result of this deal. Neither does the value of Calderon, who simply produces solidly with every team he suits up for. The one player worth monitoring in this deal next season is Felton, who has a chance to begin again in Dallas and may re-discover his offensive mojo (assuming he can hold off the equally inconsistent Harris as Big D's starter). Larkin gets a minor long-term / keeper boost (since he'll be playing for a less established team). We don't see much change at all for Dalembert or Ellington, but look for New York's Bargnani to possibly get back on track a bit with former Raptors teammate Calderon once again getting him the ball.