The New York Knicks continued to shore up their roster, bringing back Raymond Felton and Kurt Thomas from the Portland Trailblazers, in exchange for Jared Jeffries and Dan Gadzuric.

The Knicks have acquired Raymond Felton and Kurt Thomas from Portland for Jared Jeffries and Dan Gadzuric, sources tell the Daily News

— Frank Isola (@FisolaNYDN) July 15, 2012

Knicks also receive rights to two players currently in Europe and send Portland a 2016 second round pick

— Frank Isola (@FisolaNYDN) July 15, 2012

In addition, the team also decided to let restricted free-agent Landry Fields go to the Toronto Raptors, and could do the same with Jeremy Lin to the Houston Rockets.

Jeremy Lin's buddy, Landry Fields, now belongs to Raptors. Knicks not matching

— Frank Isola (@FisolaNYDN) July 15, 2012

Felton's deal is said to be worth $10 million for three seasons. The Knicks also received the rights to two players currently stashed away in Europe, while sending the Trail Blazers a 2016 second round pick.

Blazers will sign guard Raymond Felton to a three-year, $10 million deal and then trade him to Knicks in sign and trade, source tells Y!

— Marc J. Spears (@SpearsNBAYahoo) July 15, 2012

Felton was a Knick for the 2010-11 season before being part of the deal for Carmelo Anthony. Last season, he normed 11.4 points, 2.5 rebounds, 6.5 assists and 1.3 steals. Thomas on the other hand, lasted from 1998 to 2005, putting up 3.0 points, 3.5 rebounds and 0.9 assists as a reserve with Portland last year.

The Knicks also opted not to match the offer sheet by the Toronto Raptors to Landry Fields, letting the shooting guard walk. Toronto offered a backloaded $20 million contract over three years which was apparently too heavy for New York management.

The Houston Rockets have a similar deal in play with another Knicks restricted free agent, Jeremy Lin, and one wonders if this trade will discourage New York from also matching. They previously came to terms with Jason Kidd and Argentine playmaker Pablo Prigioni, and it seems unlikely that they will carry four point guards into the season.

Houston recently increased their offer to Lin, stacking the odds against New York bringing him back. - AMD, GMA News