While Scott Perry had already agreed to terms with the New York Knicks to become their new General Manager, the deal wasn’t official until both the Knicks and Kings came to terms on compensation. That has now happened, as the Knicks will be sending the Kings cash as well as a 2019 second round pick according to USA Today’s Sam Amick.

Getting an asset of any kind was a good deal for the Kings in a bad situation; Ideally, Perry wouldn’t have left, but the Knicks opportunity was too good for him to pass up and the Kings didn’t want to stand in his way. Perry is signing a five-year contract with the Knicks, and while he almost certainly won’t be getting paid as much as Phil Jackson was, it’s a safe bet to say he probably got a very healthy pay raise as well.

Perry has his work cut out for him in New York, with the Knicks navigating a potential Carmelo Anthony deal and saddled with some existing bad contracts (including a new one for Tim Hardaway Jr.) but he’ll have more power and control in New York than he did here working under Vlade Divac.

For the Kings, losing someone of Perry’s caliber is never good, but hopefully they can find a replacement for him sooner rather than later.

Best of luck to you Scott, and make sure to put us #1 on your list to call if you ever do decide to trade that Porzingis fellow.

UPDATE: The official press release from both Scott Perry and the Kings has been released.