Karl-Anthony Towns is now officially a New York Knick following a complex trade that was finalized on Wednesday. The Knicks, Timberwolves, Hornets, and the league ironed out all the remaining details to make the deal compliant with the collective bargaining agreement. The trade sends Towns and the draft rights to James Nnaji to the Knicks, while the Timberwolves receive Julius Randle, Donte DiVincenzo, Keita Bates-Diop, and a future draft pick. The Hornets get DaQuan Jeffries, Charlie Brown, Duane Washington Jr., and two future second-round picks.
Given that the Knicks are a first apron team under the new CBA, they faced strict restrictions on salary aggregation and taking back money in trades, making this deal particularly challenging. To navigate these rules, they had to get creative by signing and trading players they still held free-agent rights to.
Since apron teams can’t aggregate minimum salaries to match trade values, the Knicks found a workaround by signing those players to deals valued just $1 above the minimum. According to Fred Katz of The Athletic, the league isn’t too pleased with the Knicks’ clever use of this loophole, and it’s expected to be closed by next offseason. Nonetheless, this move showcases the Knicks’ impressive transformation from a franchise often ridiculed to one of the NBA’s smartest front offices.