Derrick Rose is returning to the New York Knicks, where he'll reunite with former head coach Tom Thibodeau. The Detroit Pistons traded Rose to the Knicks in exchange for Dennis Smith Jr. and a 2021 second-round pick, New York announced Monday.

Earlier this week, the Pistons and Rose came to a mutual agreement that a trade would be best, and multiple teams were interested in the veteran point guard, including the Los Angeles Clippers. Ultimately, however, the Knicks apparently came forward with the best offer. 

Now that the deal is complete, let's grade the trade:  

Pistons receive:

Dennis Smith Jr.
CHA • PG • #8
View Profile

Knicks receive:

Derrick Rose
NY • PG • #4
View Profile

Detroit trade grade: B-

Smith never really found his place in New York, and actually asked the team to send him to the G League bubble so he could get some playing time. It's not yet clear if he'll remain there or join the Pistons immediately. Either way, this is a worthwhile gamble by Detroit. 

At this stage of their process the Pistons need to acquire as much talent as possible and see what sticks. Even if they can't unlock anything in Smith, getting a look at another young guard is a better use of their time than letting Rose rack up stats on a bad team. Plus they'll get an extra pick for their trouble, and that's never a bad thing. 

New York trade grade: C

The Knicks, meanwhile, are hovering a few games under .500, but that's much better than anyone expected, and also has them in position to chase one of the last playoff spots in the Eastern Conference. In fact, entering Sunday they were in seventh place and just 1.5 games back of fifth. This deal is a clear signal that they're desperate to snap their postseason drought, which dates back to 2013.

But while this trade might make sense in the short term, especially as it reunites Thibodeau with one of his favorite players, there are some questions about the long-term ramifications. Specifically, how does Rose's arrival impact rookie guard Immanuel Quickley

The No. 25 overall pick has been one of the best surprises of the season, but there are already concerns about him being stuck behind veteran guards. Adding another to the mix could further reduce his playing time and hinder his development. If so, is that worth a quick first-round playoff exit?