By Scooby Axson
July 15, 2012

Raymond Felton is on his way to New York after the Knicks traded for him Saturday night.  (Rocky Widner/NBA/Getty Images)

UPDATE: (10:52 p.m.)

The New York Knicks search for a point guard may be over. The Knicks obtained guard Raymond Felton and veteran forward Kurt Thomas from the Portland Trail Blazers late Saturday night, reports The New York Daily News.  Felton will sign a three-year, $10 million deal, according to league sources.

Felton has played eight seasons in the NBA, including five with the Charlotte Bobcats, and spent a year each with the Knicks, Denver Nuggets and Trail Blazers.

Felton averaged 11.4 points and 6.5 assists per game last season.  The Knicks are still deciding on whether to match the offer sheet that guard Jeremy Lin signed with the Houston Rockets.

The Knicks have three days to match Houston's offer and coach Mike Woodson said week that Lin would ''absolutely'' return. The Knicks also signed veteran guard Jason Kidd to a contract.

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