The New York Knicks traded Kristaps Porzingis to the Dallas Mavericks on Thursday in exchange for Dennis Smith Jr., DeAndre Jordan, and Wesley Matthews, the team announced.

The Mavericks also receive Tim Hardaway Jr., Courtney Lee, and Trey Burke. The Knicks will receive a 2021 unprotected first-round pick along with a 2023 protected first-round pick (1-10), according to Adrian Wojnarowski of ESPN.

The blockbuster trade developed out of nowhere Thursday afternoon, shortly after reports indicated that Porzingis had met with Knicks management to raise concerns about the franchise's direction.

The 23-year-old was selected by the Knicks with the No. 4 pick of the 2015 draft and looked at times like a franchise player. But by trading him and adding the expiring contracts of Jordan and Matthews, New York could have up to $74 million in salary-cap space this coming summer - enough room for two max contracts.

Meanwhile, Smith moves to the Knicks after reports of discord between him and Mavs coach Rick Carlisle.

Porzingis hasn't played in the 2018-19 season as he continues to recover from an ACL injury he suffered last year. He wasn't scheduled to be re-evaluated until mid-February.