Per report by EURweb.com:

It’s OVER! We’re talking about the Chris Paul era in Los Angeles and Phil Jackson‘s in New York.

First, let’s cover what’s going on as far as Chris Paul is concerned. The LA Clippers the Houston Rockets have come to an agreement that will send the All-Star point guard to the Rockets. The info comes via The Vertical.

Paul, 32, agreed to opt in to the final year of his $24.2 million contract, clearing the way for the Clippers to execute a trade with the Rockets and bring back assets for Paul, league sources said.

In exchange for Paul, the Clippers get guards Patrick Beverley and Lou Williams, forward Sam Dekker and a 2018 first-round pick (protected Nos. 1-3). Paul had until Wednesday to opt out of the final year of his contract and become an unrestricted free agent.

It’s all about business. You see, if Paul had chosen to opt out of his current contract, he could’ve signed a new deal that started at $34 million a year. However, Paul will now be eligible to sign a five-year, $205 million maximum extension with the Rockets.

Along with the money, it appears to be a good deal for Paul who also wanted to play with Rockets All-Star guard James Harden, which led to the Clippers working out a trade with Houston. The Clippers were able to secure several tradable assets and a draft pick in the deal. The team risked losing Paul for nothing in free agency.

Paul is a nine-time All-Star, nine-time All-NBA player and a nine-time All-Defensive team member. He played six seasons with Los Angeles after six seasons with New Orleans. For his career, Paul has averaged 18.7 points, 9.9 assists and 2.3 steals per game.

In other NBA news, perhaps Carmelo Anthony can take a deep breath and crack a big ol’ smile now that the New York Knicks have decided they don’t want the Phil Jackson dram anymore.

(Jackson, of course was adamant about moving Anthony who has a NO-trade clause in his contract. To say the two clashed over the subject would be an understatement.)

Knicks owner James Dolan commented on Jackson’s departure in a team release:

“After careful thought and consideration, we mutually agreed that the Knicks will be going in a different direction. Phil Jackson is one of the most celebrated and successful individuals in the history of the NBA. His legacy in the game of basketball is unmatched. We wish him the best and thank him for his service to the Knicks as both a player and an executive.

“While we are currently evaluating how best to move forward regarding the leadership of the organization, I will not be involved in the operation of the team. Steve Mills, the team’s general manager, will run the day-to-day business of the organization over the short term. Tim Leiweke, who brings tremendous expertise and experience in sports franchise management from both Toronto and Los Angeles and is our partner in the Oak View Group, will advise and work with Steve on an interim basis to help develop a go-forward plan.”

Here’s what Phil Jackson had to say about his departure:

“The New York Knicks will always hold a special place in my heart. This team and this town launched my NBA career. I will forever be indebted to them. I am grateful to Mr. Dolan for giving me the opportunity to return here.

“I had hoped, of course, to bring another NBA championship to the Garden. As someone who treasures winning, I am deeply disappointed that we weren’t able to do that. New York fans deserve nothing less. I wish them and the Knicks organization all the best—today and always.”

Jackson, 71, spent three crappy years at the post. Let’s just call it like it is. He was a complete a total bust.