Kostas Papanikolaou's draft rights were traded from the Blazers to the Rockets as part of Sunday's deal for Thomas Robinson.
The Knicks have offered a future second-round pick and "future considerations" to the Blazers for the draft rights to Kostas Papanikolaou.
Kostas Papanikolaou's agent expects the Blazers to trade his client.
Kostas Papanikolaou will decide between playing for Olympiacos in Europe or going to the NBA next season.
Knicks rookie Kostas Papanikolaou will be sent to the Trail Blazers as part of the five-player swap for Raymond Felton.
Knicks GM Glen Grunwald said he drafted Kostas Papanikolaou because of his potential.
The Knicks drafted Kostas Papanikolaou with the No. 48 pick in the 2012 draft.
Greek F Kostas Papanikolaou is drawing interest from both the Heat and Thunder in the first round of Thursday's draft.