We heard earlier today that Anfernee “Penny” Hardaway will be waived from the Orlando Magic after being traded with Trevor Ariza for Steve Francis. Hardaway was originally drafted by Golden State in 1993, but he was traded off to the Magic where he played for his first six seasons. He has been an All-Star multiple times, all with the Magic.

After returning from an injury, Penny never really made it back to his original game, but he has played solid minutes for the Suns and the Knicks. It’s hard to tell where he’ll be headed next, but he could be a solid pickup for a playoff team.

Speaking of playoff teams, the Spurs were close to finalizing a trade that would have brought the team J.R. Smith in exchange for Brent Barry. The San Antonio Express-News reported that “The deal was close enough to completion…that Spurs officials initially told Barry he might not need to board the team’s charter flight here”. The deal apparently fell apart just before the deadline.

Barry has played only sparingly since Argentinan star Manu Ginobili returned to the team.

Smith also hasn’t been logging many minutes. He seems to have fallen out of favor with New Orleans/Oklahoma City Hornets coach Byron Scott. Smith, whose just 20 years old, has been told by Scott that he hasn’t put enough effort into improving his game.

Other moves after the deadline: Lee Nailon was waived from the Cavaliers, and Tony Delk was released from the Atlanta Hawks.