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As was posted here at Slam Dunk Central earlier today, Kevin Martin was traded from the Sacramento Kings to the Houston Rockets in exchange for Tracy McGrady.

There’s been some tweaks and revisions to the deal, according to Adrian Wojnarowski and Marc J. Spears at Yahoo! Sports as the Rockets, Kings and New York Knicks have reached agreement on a three-team deal that sends McGrady to New York.

Earlier on Wednesday, the Rockets had struck a deal with the Kings to obtain Martin, but expanded the deal to include the Knicks at the urging of McGrady’s agent, Arn Tellum.

The completed trade looks like this:

• McGrady and Kings point guard Sergio Rodriguez go to New York.
• Houston receives Martin, Knicks forwards Jordan Hill and Jared Jeffries and draft picks to the Rockets.
• Sacramento receives Carl Landry, Joey Dorsey and Knicks guard Larry Hughes.
• The Knicks will swap 2011 draft picks with the Rockets and send them their 2012 first-round pick.

By getting rid of Hill and Jeffries, the Knicks were able to clear up cap space in order to possibly allow them to sign two marquee players this summer.

The big winner here? In the short-term, probably Houston. they got their big scorer in Martin and a possible star in Hill, along with a pair of draft picks.

Sacramento basically got Carl Landry and a salary being dumped in Joey Dorsey. Personally, I don’t like that the Kings got Hughes in the deal at all. I am going to suspect that the Kings aren’t done just yet wheelin’ and dealin’.

The big loser? New York. I realize the Knicks wanted to expand their cap space, but as it were, they had a substantial amount to work with to begin with. I’m not sure as to why the Knicks had to have McGrady as he is an injury waiting to happen.

*****UPDATE*****

There were more tweaks to the Houston-Sacramento-New York deal, as reported by Hoops World.

Here’s the final (unless more players and/or draft picks are added) transaction:

• Houston receives Kevin Martin, Hilton Armstrong, Jordan Hill, Jared Jeffries, the right to swap first-round picks in 2011 (top overall protected) and New York’s 2012 first-round pick.
• Sacramento receives Larry Hughes, Carl Landry and Joey Dorsey
• New York receives Tracy McGrady and Sergio Rodriguez

Stay tuned to Slam Dunk Central for more developments on this mega-deal, should they transpire.