In their first major move since free agency started today, the New York Knicks are reportedly on the verge of landing Toronto Raptors forward Andrea Bargnani in a trade that will send the Knicks' Marcus Camby and Steve Novak as well as a first-round pick in the 2016 draft to Toronto, according to ESPN.

"It's unfortunate that I wasn't given a meaningful opportunity to contribute last season in New York. I was really looking forward to the upcoming year as a chance to show the organization what they missed out on last year, and pushing our team towards the Finals," Camby said in a statement through his agent, according to ESPN.

The motives behind the trade for Bargnani range from insurance for the injury-plagued Amar'e Stoudemire to a back up in case free agent J.R. Smith doesn't resign with the Knicks. Both reasons seemed to be a bit flawed because Bargnani has missed 98 games in the past two seasons because of injuries, and his three-point and field goal percentages were lower than Smith's during the 2012-2013 season, though both players have similar career shooting percentages.

Addintionally, Bargnani's $23 million salary over the next two seasons will push the Knicks even further over the salary cap threshold and add to the luxury taxes the are already paying to do so.

New York is also reportedly interested in Milwaukee Bucks shooting guard Monta Ellis, but sources believe the team doesn't have enough money to sign Ellis, who opted out of an $11 million extension with the Bucks for next season. Another guard, Aaron Brooks, who played for the Houston Rockets last season, is also on the Knicks' radar, according to ESPN. The team is looking for a backup point guard to replace Jason Kidd--the now head coach for the Knicks' rivals the Brooklyn Nets--and Pablo Prigioni, who hasn't decided whether he'll return for another season.

Tags: New York Knicks