Tracy McGrady to Cleveland?

UPDATED February 18, 1:40 PM

As if the tradewinds this season haven't been dramatic enough, there is now buzz circulating that G Tracy McGrady will be looking to sign with the Cavaliers or Lakers in the event he is bought out from his contract. After being traded from Houston to the Sacramento Kings this morning in exchange for G Kevin Martin, McGrady has, as expected, been moved once again.

This afternoon just about 2 hours before the trading deadline, the Sacramento Kings and Houston Rockets made yet another trade -- sending McGrady to the New York Knicks while the Rockets retain Kevin Martin in addition to receiving Jordan Hill and Jared Jeffries. The Kings will get former-Cavalier Larry Hughes and Joey Dorsey.

The Knicks have been heavily persuing McGrady for the value in his $22.5 million expiring contract for several weeks, and figure to buy out his contract after landing the deal.

Upon what appears to be his inevitible eventual release, sources close to McGrady have told Yahoo! Sports that Cleveland or Los Angeles are the two destinations in his sights. We know that Cavs GM Danny Ferry has been closely monitoring the McGrady situation, but it is unclear whether he would be willing to make McGrady a formal offer. In just 6 games this year, the former 7-time NBA All-Star averaged 3.2 PPG and 1 APG in an average of 7.7 minutes shooting 37% from behind the arc.