According to the amazing Marc Stein (#eventhehawks), the Knicks have made any trade involving Iman Shumpert contingent on taking on the remainder of Raymond Felton's contract and, presumably, Felton himself. This also impacted any negotiation with the Hawks for Jeff Teague.
According to the ESPN Trade Machine, the Hawks deal with the Knicks would have had to included Shumpert, Felton and a couple of others as displayed here.
It would take Felton, Shumper, Cole Aldrich and Beno Udrih to make the salaries work between the two teams.
We see now why the Teague talks didn't go to the Knicks because, as we discussed on the Bill Shanks show last week, the Knicks don't have the assets to make a deal, they don't have draft picks and they feel the need to tie a bad deal onto the one or two tradeable assets they do have.
Not a great time to be a Knick fan, or the Knicks coach. Sorry, Woody.