Per Toronto Star:
The Knicks were on the verge of acquiring Toronto Raptors point guard Kyle Lowry before the trade was vetoed by Madison Square Garden chairman James Dolan, the New York Daily News reports.
The basketball front office had decided to go ahead with the trade — reports vary but the Knicks were packaging Raymond Felton, Metta World Peace and either Iman Shumpert or Tim Hardaway Jr. or a 2018 first-round pick — after winning in Chicago on Wednesday despite blowing a huge lead.
Dolan had second thoughts about trading for Lowry and was enraged that details of the proposed deal had been leaked to the media, the Daily News reports.
The Raptors wanted the first-round pick, but Dolan — who handled the Carmelo Anthony trade with Raptors GM Masai Ujiri when Ujiri was with the Denver Nuggets — got cold feet about trading a future asset. Dolan has been sensitive to criticism that the Knicks lost the Anthony trade.
This guy does not mess around. Almost pulled off 2 major deals in the same week.