The New York Knicks agreed to acquire Tracy McGrady and his 23-million-dollar contract as part of a nine-player deal with the Houston Rockets, and Sacramento Kings on Thursday.

The Knicks will also receive Spanish guard Sergio Rodriguez from Sacramento, according to the New York Daily News.

In return, the Rockets get guard Kevin Martin and Hilton Armstrong from Sacramento; Jordan Hill and Jared Jeffries from New York and the rights to swap first-round picks with the Knicks in 2011 as well as take their 2012 first-round pick.

Sacramento obtains Houston's Carl Landry, averaging 16.1 points per game off the bench, little-used backup forward Joey Dorsey, and Knicks veteran guard Larry Hughes.

The trade must be approved by the league and will not become official until all the players involved pass their physicals.