Chandler, who won an NBA title with the Mavericks in 2011, was agreed to be traded by the New York Knicks along with guard Raymond Felton for a total of four players plus Dallas' two second-round picks in the upcoming 2014 NBA draft, per Yahoo! Sports' Adrian Wojnarowski:
"The New York Knicks have reached an agreement in principle to send Tyson Chandler and Raymond Felton to the Dallas Mavericks, league sources told Yahoo! Sports.
"As part of the trade, the Knicks will receive center Sam Dalembert and guards Jose Calderon, Shane Larkin and Wayne Ellington and the Mavericks' two second-round picks in Thursday's NBA draft -- the 34th and 51st overall selections, the source said.
"The trade is the first major move by new Knicks president Phil Jackson to change the team's roster. Jackson thinks Calderon will be a good fit to run the triangle offense Jackson used to help win 11 championships with the Chicago Bulls and Los Angeles Lakers, sources said.
"Chandler, 31, returns to Dallas, where he spent the 2010-11 season and won a championship with the Mavericks. He left after that season for a four-year, $60 million contract with the Knicks. Chandler has one year worth $14.6 million left on the contract."
USA Today's Sam Amick added more details about the trade:
"The Mavericks get the best player in the deal, Chandler, the 32-year-old 2013 All-Star who is coming off an injury-filled run with the Knicks but still can be an elite defender. They also get Felton, who has been criticized for his defense and fitness but has a reasonable contract for next year with a player option for 2015-16.
"The Knicks, though, get some financial flexibility and Calderon, a veteran point guard who, because of his elite shooting and passing skills, could be a good fit for the option. Calderon is set to make about $7 million a year for the next three seasons.
"Dalembert has a partially guaranteed contract for next season, while Larkin is on the second year of his rookie contract .
"Larkin, son of Baseball Hall of Famer Barry, played sparingly in an injury-filled rookie season after being drafted 18th overall from Miami last year. But his athleticism and output in college enticed scouts."
ESPN Dallas' Tim MacMahon then weighs in on the deal:
"The Mavs are in better shape now with Chandler back in the mix than they would have been if he never left. With Chandler on board last summer, meaning the Mavs wouldn't have hoarded cap space with Howard/CP3 hopes in mind, there wouldn't have been any room for Monta Ellis on the roster.
"That means the Mavs' offense would still lack the dynamic dribble penetrator who blended so well with the big German and took pressure off the now-36-year-old (Dirk) Nowitzki.
"Now the Mavs have a potent one-two offensive punch, a defensive backbone (again) and the salary-cap space to make at least one major addition this summer.
"No, Cuban's grand plan didn't work out as hoped. Yes, Chandler is coming back to Dallas to complete the contract the Mavs weren't willing to give him originally."