NBA Trade Rumors 2013: Toronto Raptors To Trade Andrea Bargnani To New York Knicks; Team Targetting Eric Bledsoe From LA Clippers

The Toronto Raptors are set to make their first major move this summer as reports confirmed that Andrea Bargnani will be traded to the New York Knicks.

According to Jared Zwerling of ESPN New York, sources close to the situation said that Bargnani will be shipped to the Knicks in exchange for veteran center Marcus Camby and three-point specialist Steve Novak along with a future first-round selection.

Camby's agent, Richard Kaplan, also confirmed the deal. However, It will have to wait for league approval and will likely be made official on July 10 after the NBA's moratorium on possible trade deals.

Bargnani has been on the trading block for the past few seasons, but teams have been cold to the idea of acquiring the Italian forward due to his expensive contract. The 2006 first-overall pick is due to receive $23 million in the next two years, along with a potential $500,000 bonus as trade kicker if the deal gets league approval.

Acquiring Bargnani will put the Knicks way over the luxury tax threshold next season, but it will also give them financial flexibility moving forward. Bargnani's contract will go off the books after the 2014-15 season, which will give room for them to offer max contract to Carmelo Anthony in 2015 along with other potential superstar free agents.

The 27-year-old Bargnani averaged 12.7 points and 3.7 rebounds per game the past season, but was shut down in the latter part of the games due to an avulsion sprain in his right elbow.

Aside from shipping out Bargnani, the Raptors are also expected to pursue Los Angeles Clippers guard Eric Bledsoe, who is one of the hottest commodities this offseason.

The Raptors will have to make a new offer though since Bargnani was part of their original offer to the Clippers. According to Marc Stein of ESPN, the Clippers and the Raptors were in deep talks about a deal that would send Bledsoe to Toronto in exchange for Bargnani and high-flying shooting guard DeMar Derozan.

Aside from the Raptors, the Orlando Magic are also engaged in exploratory talks with the Clippers about a deal that will send Arron Afflalo to the Clippers, but newly-hired coach Doc Rivers reportedly turned down the offer.