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The Knicks struck a deal to reacquire Raymond Felton, the veteran point guard, sparking immediate, furious speculation that the franchise was ready to let Jeremy Lin leave for Houston. The answer, as of midnight, was anything but clear. In a surprise move, the Knicks struck a deal to reacquire Raymond Felton, the veteran point guard, sparking immediate, furious speculation that the franchise was ready to let Lin leave for Houston.

Kevin Durant had 24 points and 10 rebounds to lead the U.S. Olympic basketball team to a 113-59 victory over the Dominican Republic on Thursday night in an exhibition game.

Tim Duncan, who declared himself "a Spur for life" in March, reportedly has followed through on his intentions to remain in San Antonio. The 36-year-old franchise cornerstone has agreed to a three-year contract to return to the Spurs, Yahoo! Sports reported Tuesday. The website reported the contract is expected to be worth approximately $36 million, or in the same range of the deal that Kevin Garnett agreed to with the Boston Celtics last week.

The Orlando Magic have re-opened negotiations with teams other than Brooklyn Nets for Dwight Howard, a league source told ESPN The Magazine's Ric Bucher... The Nets have been trying to acquire the Magic's star center but need other teams to help facilitate the blockbuster trade. Sources told ESPN.com on Monday the Nets and Magic were cautiously optimistic the Cleveland Cavaliers and Los Angeles Clippers would help them facilitate a four-way trade to send Howard to Brooklyn.

The Knicks made two moves Monday to build their roster, acquiring Marcus Camby in a sign-and-trade deal with the Houston Rockets and agreeing to a four-year deal with Steve Novak.

Ray Allen will take less money for a chance at anotherNBA championship. Allen told the Miami Heat on Friday night that he intends to accept their contractoffer and leave Boston after five seasons, even though the Celtics could pay him about twice as much as the reigning NBA champions will be able to next season. Miami could only offer Allen the mini mid-level, worth about $3 million a year.

A person with knowledge of the deal said Thursday that New York Knicks restricted free-agent guard Jeremy Lin and the Houston Rockets have agreed to terms on a four-year contract offer. The person told The Associated Press on Thursday on condition of anonymity because the team hadn't officially announced the deal. Lin can sign the offer sheet with Houston on July 11, and the Knicks will then have three days to match the offer.

Jason Kidd would also be invaluable as a mentor to Jeremy Lin, the Knicks’ precocious 23-year-old point guard, assuming they can keep him.

The two-time MVP brings a pass-first mentality to a team in need of leadership at point guard. He's also an above average shooter, making 43% of his three-pointers during his career. The Lakers added a point guard of the future by taking one of the best from the last two decades, plucking Steve Nash from the Phoenix Suns for a slew of draft picks.

Deron Williams formally committed to a five-year deal with the Nets Tuesday evening, boosting their fortunes on and off the court as the franchise moves to Brooklyn this fall.