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NEW YORK - Stephon Marbury is returning to his hometown to play for the team he grew up watching.
In an eight-player trade between the Knicks and the Phoenix Suns, Marbury, Penny Hardaway and Cezary Trybanski were dealt Monday to New York for Antonio McDyess, Howard Eisley, Charlie Ward, Maciej Lampe, the rights to Milos Vujanic and two first-round draft picks.
"Our goal is to win an NBA championship, and our goal is to put together a team that can do that," Knicks president Isiah Thomas said after making his first major move in his new job.
The trade is the fourth of Marbury's career. The Brooklyn native was drafted by Milwaukee and dealt to Minnesota, where he subsequently forced a trade to New Jersey. The Nets sent him to Phoenix for Jason Kidd.
"I think we got the best deal," Knicks center Dikembe Mutombo said. "He's among the best point guards in the league, he's an All-Star player."
Thomas said Marbury told him "it's a dream come true" to play for his hometown team.
The trade represents a major shakeup for both teams and an additional long-term financial commitment for a Knicks team that already has the league's highest payroll.
In exchange for giving up its best player, Phoenix will be under the salary cap before next season and will have at least $8-million to offer to a free-agent class that includes Kobe Bryant.
Suns owner Jerry Colangelo said the Suns will save $20-million to $25-million in salary and luxury tax costs through the 2004-05 season while Phoenix rebuilds.
"This is a big picture kind of move, and a bold move," Colangelo said. "We didn't have flexibility under the cap, and we were hamstrung by some contracts."
The contracts of McDyess and Ward, the former FSU standout, expire at the end of the season, and Ward has a buyout clause that can be exercised before Saturday. Eisley is under contract for three more seasons. Vujanic, the starting point guard on the Yugoslav team that won the 2002 World title, is playing in Europe.
Marbury, one of the league's best point guards, was averaging a team-high 20.8 points for the Suns, who are in last place in the Pacific Division.
"It's definitely a home run hit by Isiah in terms of getting this deal done," Knicks coach Don Chaney said.
Hardaway, a former All-Star, has been a reserve in Phoenix and will have the same role in New York. He will earn $14-million next season and $16-million in 2005-06.
The Knicks will give Phoenix their first-round pick in the 2004 draft and an additional first-round pick.
Marbury will be reunited with Keith Van Horn, a teammate in New Jersey. Marbury has said the Nets didn't win when he was there because he played with untalented players, lumping Van Horn in with Gheorghe Muresan and Jim McIlvaine.
Marbury and Hardaway were expected to join the Knicks in Cleveland and play tonight.