A three-man appeals panel upheld an earlier judgment that clears the way for a trade of backup center Chris Dudley to the New York Knicks.
Dudley will be sent to the Knicks from the Portland Trail Blazers in a deal also involving Toronto.
The Raptors will receive second-year forward John Wallace from New York, the Knicks will get the Raptors’ first-round draft pick in 1998 and Portland will receive New York’s No. 1 pick.
A snag developed late Thursday as Portland and New York argued whether the pick going to the Blazers would be lottery protected. The teams wrangled over the phone for several hours and didn’t resolve their differences, keeping the trade from being finalized.
The league had opposed the trade because of issues surrounding the manner in which Dudley opted out of a contract with Portland and then re-signed.
The Houston Rockets will no longer play in The Summit. Their arena is changing its name to the Compaq Center in a deal announced by Compaq Computer Corp. and the Summit’s management company.