This is truly a equally as big a risk as a potential reward!
First off the Risk:Anthony Randolph has shown he can ball in this league in spurts, he could easily mature into one of the 10 best players at his position, so swapping him just for a pick is pretty risky.
Now The Reward: Wilson Chandler is a keeper for sure and trading Randolph for a pick frees up exactly enough to give him his Qualifying offer (The Knicks will no doubt have to add the extension to that to keep Wilson for signing an offer letter with another team) and this would allow us to maximize our cap for the season.
Furthermore, Randolph is not getting off the bench for us this season, might as well get something for him, a first rounder is a nice compensation considering we may need it to help bring a player in this off season.
Anyways here is the article....of course like any trade rumor this time of the year, take it with a grain of salt!