Like it or not, this is the news of the day, and likely will be a highly publicized story until his future is sorted out.
According to a Yahoo! report, Chris Paul's agent has requested the Hornets trade his client to the New York Knicks. Since Paul's famous wedding-day toast, there has been great speculation about the Knicks forming their own Big 3 of Amar'e Stoudemire, Carmelo Anthony, and Paul. It's two-thirds complete already, and it seems the third Musketeer is trying to join sooner rather than later.
I hate to say, it but as Knicks fans, this is not good news, if the report is to believed. Trading for Chris Paul would be yet another devastating blow to the Knicks' depth (see: 'Melo trade), and would mean Mike D'Antoni would once again have to make even more adjustments on the fly. As we saw last year when the Knicks traded for Carmelo Anthony, shaking up a roster like thta can lead to on-court turmoil.
Now, the Hornets have denied the report, but with so much speculation going on, it's impossible to know what's true or not. One common (and likely true) sentiment is that the Knicks do not have the assets to trade for Paul. I'm not expert on these things, but the trade would probably have to involve some kind of combination of Chauncey Billups, Toney Douglas, Landry Fields, Iman Shumpert, and one of their big men, Ronny Turiaf, Jerome Jordan, or Josh Harrellson. Even then, that may not be enough; the Hornets could certainly entertain better offers.
I'm neither here nor there about acquiring CP3 through free agency, but doing it through trade would eliminate the Knicks of nearly all their depth.