Smith, a No. 2 overall pick in 2009, never came close to living up to his potential in St. Louis. He recently lost his starting job to Barry Richardson after three seasons marked by injuries and disappointing performances. Smith agreed to a pay cut in April, lowering his salary from $10 million to $4 million.
Hunter similarly found himself out of favor in New York, falling in the depth chart behind Austin Howard.
This likely makes Richardson's starting job more secure. The deal, which has not yet officially been announced, was first reported by Rich Cimini of ESPN New York.
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