On September 28, the New York Knicks made a significant move by waiving Marcus Morris Sr. and Chuma Okeke. This decision came in the wake of a surprising trade that will bring All-Star center Karl-Anthony Towns to New York. The trade, which sent shockwaves through the league, has far-reaching consequences for the Knicks’ roster and salary cap. Here’s how this blockbuster deal unfolded and what it means for the future of the Knicks.
NBA Business: Necessary Dominos Fall in Karl-Anthony Towns Knicks Trade
The Trade Agreement
The New York Knicks and Minnesota Timberwolves have finalized a trade that will send Karl-Anthony Towns to the Knicks. In exchange, the Timberwolves will receive Julius Randle, Donte DiVincenzo, Keita Bates-Diop, and Detroit’s top-13 protected 2025 first-round pick. The Knicks’ decision to part with Randle signals a shift in strategy as they look to build a more versatile roster around Towns, a player with strong ties to New York and a game that complements the Knicks’ core.
This trade is more than just a talent swap—it’s a cap puzzle that requires careful maneuvering from both sides. The Knicks facilitated the deal by waiving Morris and Okeke, who had both signed Exhibit 9 deals. This created the necessary roster space to make the trade work under the NBA’s salary cap rules.
Salary Cap Complexities
For both the Knicks and the Timberwolves, this deal came with a series of cap complications. The Knicks were already operating above the first tax apron and hard-capped themselves in July when they aggregated salaries to acquire Mikal Bridges from the Brooklyn Nets. As a result, the Knicks had to carefully match the salaries being sent to Minnesota to complete the Karl-Anthony Towns trade without violating the NBA’s stringent cap rules. As a result, the Knicks carefully matched the salaries sent to Minnesota to complete the Towns trade without violating the NBA’s stringent cap rules.
The Knicks’ outgoing package, which included Randle, DiVincenzo, and Bates-Diop, totaled approximately $41 million. However, Towns’ cap hit for the 2024-25 season is $49.2 million, meaning the Knicks had to add another $6.2 million in salary to make the deal legal. Enter the Charlotte Hornets.
The Hornets’ Role in the Deal
With both the Knicks and Timberwolves operating as apron teams, a third team was necessary to make the trade work. The Charlotte Hornets stepped in to help facilitate the deal. The Hornets agreed to absorb additional salary by taking on DaQuan Jeffries and cash considerations from the Knicks. Jeffries is, signed to a short-term contract, will head to Charlotte using the Hornets’ $8 million room exception, which was vital in keeping the Knicks under their hard cap. Charlie Brown Jr. could also be included to further bridge the salary cap however, he hasn’t officially been included in the deal.
In return, the Hornets will also receive future draft assets, most likely in the form of second-round picks. This aspect of the deal highlights how NBA teams must creatively navigate the league’s new Collective Bargaining Agreement, strategically using exceptions and room allowances in trades.
Roster Moves and Future Flexibility After The Karl-Anthony Towns Trade
Following the trade, the Knicks find themselves with three open roster spots. John Hollinger of The Athletic has noted that these spots are likely to be filled by sign-and-trade contracts for Jeffries, and Brown Jr. The Knicks, after clearing out Morris and Okeke, now have enough room to execute these moves while staying compliant with the league’s cap rules.
However, the deal leaves the Knicks with just $3.6 million in cap space below the hard cap. This means that the trade for Towns has brought a new dynamic to New York. However, it also limits the team’s ability to make additional moves during the season. The Knicks may be forced to begin the 2024-25 season with only 13 players on standard contracts, as they won’t have enough cap room to carry 14 players without exceeding the hard cap.
