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Carmelo Anthony is coming home, and that could mean that Donnie Walsh is leaving.

James Dolan pulled the trigger Monday night on a blockbuster deal for Anthony, the Brooklyn-born All-Star forward and former Syracuse standout, who for months was angling for an opportunity to join forces with Amar'e Stoudemire in New York. It's all part of the Knicks' ambitious plan to eventually add either Chris Paul or Deron Williams next year and give the club its own Big Three to compete against Miami and Boston.

The price for Anthony was steep, as the Knicks traded Danilo Gallinari, Raymond Felton, Wilson Chandler and rookie center Timofey Mozgov to the Denver Nuggets. They also gave Denver $3 million in cash plus a 2014 first-round pick and two second-round picks they had acquired from Golden State in last summer's sign-and-trade with David Lee.

The Knicks get Anthony, Chauncey Billups, Shelden Williams, Renaldo Balkman and Anthony Carter. In a separate deal, the Knicks traded Anthony Randolph and Eddy Curry to the Minnesota T-Wolves, who in turn will reportedly send Corey Brewer to the Knicks. As a condition of the deal, Anthony will get a 3-year, $65 million extension.

The deal was agreed to Monday night when Dolan, the chairman of Madison Square Garden, included Mozgov. The Nuggets had insisted on the 7-foot Russian center while Walsh, the team president, and head coach Mike D'Antoni felt the Knicks were giving up too much even without Mozgov. The moves will not be finalized until the commissioner's office passes on them Tuesday.

D'Antoni and Walsh were also not in favor of moving Gallinari, a 6-10 small forward with great range.

Walsh, whose patience helped the Knicks get under the salary cap and start the rebuilding process, wanted to wait until the summer to sign Anthony when he became a free agent. Dolan, however, wanted Anthony at any cost and overruled Walsh.

So while New York will be buzzing Wednesday when Anthony makes his Knicks' debut at the Garden against the Milwaukee Bucks, the trade will likely create massive upheaval in the front office.

Dolan took over the negotiations for Anthony last summer and according to sources is being advised by Isiah Thomas, the former Knicks president who is currently coaching at Florida International in Miami.

It was Thomas who informed Dolan last summer that he had received assurances from Anthony that the player would do everything in his power to either force a trade to the Knicks or sign with them as a free agent.

Although Walsh was willing to call Denver's bluff, once Dolan became directly involved in the negotiations all bets were off. Dolan, according to sources, did not want to lose Anthony to his new adversary, Nets owner Mikhail Prokhorov. New Jersey was aggressive in its bid, which in turn forced the Knicks to increase their offer.

The addition of Billups is critical because the veteran guard provides leadership in the locker room and experience on the court. Carter and Williams are strictly bench players and Brewer is a strong defensive player.

The Knicks have available roster spots and assuming they don't make any trades between now and the Thursday 3 p.m. deadline, they might attempt to sign center Earl Barron. Another possibility is bringing back Jared Jeffries, who could be bought out by the Houston Rockets.

"This was a long process and Carmelo is relieved that it is over and he's thrilled to be joining the Knicks," Anthony's agent, Leon Rose, said in a statement. "He and I appreciate how the Denver Nuggets and the fans have treated him over the years and Carmelo wishes nothing but the best for the franchise, the fans and the city."

Now Anthony is home and his new team will look vastly different Wednesday against the Bucks. The Garden will be alive and the cheers will be loud when Anthony is introduced.

Walsh will be in his usual seat, not far from the Knick bench. But probably not for long.