New York Knicks have been the subject of much speculation surrounding tonight's NBA draft. In particular, that speculation has been centered around electric BYU guard Jimmer Fredette, who called the Knicks his 1A preference along with the Utah Jazz since he grew up in New York.

However, the Knicks' number 17 draft pick probably isn't high enough to get Fredette with teams like the Jazz, Phoenix Suns, and Indiana Pacers in front of them, all rumored to have interest in Fredette.

Currently, Fredette is slotted to go to the Sacramento Kings at number 7, Jazz at number 12, Suns at number 13, or the Pacers at number 15 depending on any number of mock drafts put out by NBA experts.

The Utah Jazz have the number 3 pick in the draft, but won't use that pick on Fredette. Therefore, if Fredette gets past Sacramento at number 7, then the Knicks would just have to get a pick before the Jazz at number 12.

According to ESPN:
Sources say that the Charlotte Bobcats (9), Milwaukee Bucks (10) and Golden State Warriors (11) are also open to moving their picks. In this case, the interest is all pretty specific. The Knicks, and a handful of other teams, are trying to get ahead of the Jazz. The target? BYU's Jimmer Fredette.

Among these, the most likely trade candidate is the Charlotte Bobcats at number 9 whose owner, Michael Jordan, has long been rumored to want to make a deal with the New York to unload some hefty contracts.

Oft-injured DeSagana Diop has two years (including a player option) at about $7 million per year left on his contract and Stephen Jackson has two year and will make $9.2 million next year.

Although Diop will just be a salary dump, Jackson can still contribute to New York as a shooting guard or small forward. 

So for Fredette with the number 9 pick, Jackson, and Diop, the Knicks would likely have to give up a promising player in Landry Fields and Chauncey Billups' $14 million expiring contract

The salaries of Jackson and Diop for Billups and Fields would match up between the two teams.

New York would get the coveted Fredette to line up at point guard next to Carmelo Anthony, with Jackson backing up Anthony or starting at small forward.

Jordan and the Bobcats get to unload contracts and get significantly under the salary cap (to be determined by NBA labor negotiations) and vie for the 2012 free agent class that should rival the 2010 class.

Among the big name players hitting free agency in 2012 include Dwight Howard, Chris Paul, and Deron Williams.