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Knicks Officially Acquire Karl-Anthony Towns In Three-Team Trade With Wolves, Hornets

October 2nd, 2024 at 1:56pm CST by Luke Adams

The Karl-Anthony Towns blockbuster involving the Knicks, Timberwolves, and Hornets is now official, according to press releases from each of the three teams involved in the deal.

Word first broke last Friday night that an agreement had been reached, with more details reported on Tuesday. The full terms of the trade are as follows:

  • Knicks acquire Towns and the draft rights to James Nnaji.
  • Timberwolves acquire Julius Randle, Donte DiVincenzo, Keita Bates-Diop, and the Pistons’ 2025 first-round pick (top-13 protected; from Knicks).
  • Hornets acquire DaQuan Jeffries (sign-and-trade), Charlie Brown Jr. (sign-and-trade), Duane Washington (sign-and-trade), either the Nuggets’ or Sixers’ 2025 second-round pick (whichever is least favorable; from Timberwolves), the Warriors’ 2026 second-round pick (from Knicks), the Knicks’ 2031 second-round pick, and cash ($7.2MM; from Knicks).

“We are beyond excited to welcome Karl-Anthony Towns to the New York Knicks family,” Knicks president of basketball operations Leon Rose said in a statement. “Karl-Anthony brings a skillset that is unique to the game of basketball. He possesses a blend of playmaking, shooting, rebounding and defending that in combination with his size allows him to compete at a level that is rare in this league. Karl-Anthony has demonstrated throughout his career to be a high caliber player and person on and off the court who will complement the type of team and culture we continue to build in New York.”

Minnesota waived camp invitee Jaedon LeDee in order to accommodate the one-for-three swap, while Charlotte cut guards Marcus Garrett and guard Caleb McConnell to make room on its roster for the three incoming players.

Both the Wolves and Hornets are now at their 21-man preseason limits, while the Knicks have five open spots on their 21-man squad. They’ll reportedly fill one of those spots by re-signing Chuma Okeke.

Our original report on the trade includes more details on the on-court implications of the move for the Knicks and Timberwolves. We also discussed how it will affect New York’s ability to fill out the rest of its regular season roster.

Here are a few more additional notes on the transaction:

  • Randle received his full 15% trade bonus as part of the transaction, confirms ESPN’s Bobby Marks (via Twitter). That bumps the forward’s cap hit for 2024/25 from $28,939,680 to $33,073,920. The cap charge for Randle’s ’25/26 player option ($30,935,520) remains unchanged, since the trade bonus doesn’t affect option years.
  • Towns also had a trade kicker in his contract, but it’s voided because he’s already earning his maximum salary, Marks adds (via Twitter).
  • The three players the Knicks signed-and-traded to the Hornets will each earn exactly $1 more than their respective minimum salaries, per Marks. That works out to $2,425,404 for Jeffries, $2,237,692 for Brown, and $2,162,607 for Washington. Teams aren’t permitted to aggregate multiple minimum-salary contracts for matching purposes in offseason trades, and since Bates-Diop is on a minimum deal, Jeffries, Brown, and Washington couldn’t be. Fred Katz of The Athletic (Twitter link) has heard that the NBA “isn’t thrilled” about the way in which the Knicks circumvented that rule, but it’s technically legal.
  • The Hornets used their $7,983,000 room exception to accommodate those three incoming salaries, becoming the first team to take advantage of the new rule allowing clubs to use their non-taxpayer mid-level exception, room exception, or bi-annual exception to acquire a player via trade. Charlotte now has just $1,157,297 left on that exception.
  • The Timberwolves will create a $4,686,880 trade exception in the deal, which they’d be allowed to use this season despite being a second-apron team. Teams operating above either tax apron are prohibited from using trade exceptions that were generated during the previous season, but can use newly created TPEs.
  • Because they sent approximately $7.2MM to the Hornets in the deal, were responsible for paying Randle’s $4.13MM trade bonus, and will reportedly pay Partizan Belgrade an estimated $850K for Washington’s buyout, the Knicks are on the hook for more than $12MM in cash, separate from player salaries, as a result of the deal.
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Offseason Observations: Exhibit 10 Terms, Okoro, Current FAs, Stretch Provision

September 20th, 2024 at 5:36pm CST by Luke Adams

With the start of most NBA training camps just 11 days away (and even sooner than that for the Celtics and Nuggets), the 2024 offseason is nearing its end.

Before we put a bow on the summer of 2024, we have one more installment of our "Offseason Observations" to share today, following up on similar articles published in July and August.

Here are some of the under-the-radar cap- and CBA-related stories I'm keeping an eye on as teams around the league prepare for their media days and training camps.

The disparity between Exhibit 10 bonuses

As we've written many teams in recent weeks, when a player signs an Exhibit 10 contract with an NBA team, is waived before the regular season begins, and then spends at least 60 days with his club's G League affiliate, he's eligible to earn a bonus worth up to $77.5K.

We always clarify that those bonuses can be worth "up to" $77.5K because that's the maximum possible Exhibit 10 bonus in 2024/25 (up from $75K a year ago, having increased at the same rate as the salary cap). But not every player who signs an Exhibit 10 contract is able to negotiate that maximum bonus.

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Hornets Sign Marcus Garrett, Joel Soriano, Caleb McConnell

September 11th, 2024 at 8:23am CST by Luke Adams

8:23am: The Hornets have officially announced the signings and confirmed that all three players, plus Johnson, are on Exhibit 10 contracts, as expected.

8:13am: The Hornets are signing free agents Marcus Garrett, Joel Soriano, and Caleb McConnell to training camp contracts, league sources tell Rod Boone of The Charlotte Observer (Twitter link).

Garrett, a 6’5″ guard who went undrafted out of Kansas in 2021, spent part of his rookie season on a two-way contract with the Heat and appeared in 12 games for Miami. However, the former Naismith Defensive Player of the Year has primarily played in the G League since going pro. He spent last season with the Greensboro Swarm and played for the Hornets’ Summer League team in Las Vegas this July.

Soriano, a 6’10” center, went undrafted in June after finishing his college career at St. John’s. The big man averaged a double-double (14.5 points, 10.7 rebounds) in 66 games during his final two college seasons while also chipping in 1.6 blocks and 1.4 assists in 29.3 minutes per contest.

McConnell went undrafted out of Rutgers in 2023 and spent his rookie year with the Oklahoma City Blue, the Thunder’s G League affiliate. The 6’7″ wing, a two-time Big Ten Defensive Player of the Year in college, averaged 7.1 points, 5.7 rebounds, and 2.2 assists in 21.7 minutes per game across 47 Showcase Cup and regular season appearances for the Blue, who won the NBAGL championship in the spring. McConnell’s G League returning rights were recently traded from OKC to Greensboro.

Garrett, Soriano, and McConnell will almost certainly sign non-guaranteed Exhibit 10 contracts, which will put them in line to receive bonuses worth up to $77.5K if they’re waived by the Hornets, then spend at least 60 days with the Swarm. It’s worth noting that Exhibit 10 contracts can also be converted to two-way deals before opening night, and Charlotte does have a two-way slot open.

Prior to officially completing these three signings, the Hornets are carrying 17 players on their offseason roster — 14 on standard contracts, a pair on two-way deals, and one (Keyontae Johnson) on a camp contract. They’ve also reportedly agreed to an Exhibit 10 deal with Raequan Battle.

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G League Notes: Simpson, Boeheim, McGowens, More

September 2nd, 2024 at 3:15pm CST by Tristan Tucker

The Hornets‘, Pistons‘, Spurs‘ and Thunder‘s G League affiliates completed a four-team trade, according to a release (Twitter link) and the G League transactions log.

In the trade, the Greensboro Swarm (Hornets) obtained the returning player rights to both Zavier Simpson and Caleb McConnell. The Motor City Cruise (Pistons) acquired RaiQuan Gray‘s rights, along with OKC’s 2025 second-round pick. The Austin Spurs got the rights to Nathan Mensah while the Oklahoma City Blue obtained Buddy Boeheim‘s.

Acquiring a player’s returning G League rights doesn’t necessarily mean that player will suit up for his new team. These trades ensure that if a player signs an NBAGL contract, he will play for the club that acquired his rights. When deals occur at this point in the offseason, they’re often precursors to players signing Exhibit 10 contracts with the parent club, lining them up to receive a bonus worth up to $77.5K if they’re waived and then spent at least 60 days in the G League.

This deal appears to be for exactly those purposes, at least in part. Mensah and Boeheim reportedly agreed to training camp deals with the Spurs and Thunder, respectively, so these trades indicate those agreements will be completed soon. Mensah played in 25 games for the Hornets last season, averaging 1.3 points and 2.6 rebounds per contest. Boeheim played two seasons with the Pistons, appearing in 20 games and averaging 2.5 PPG.

The other names in the trade are interesting. Simpson played in Summer League with the Hornets but previous reporting from HoopsHype indicated he was set to head overseas this season. He may very well still be doing that, but Charlotte clearly likes him. Gray, meanwhile, was traded while on a two-way contract to the Bulls before being waived.

Simpson has 11 games of NBA experience, averaging 7.8 points and 5.0 assists. McConnell, a former Rutgers player, also played for Charlotte in Summer League. While he hasn’t yet appeared in an NBA game, he suited up for 47 G League contests and averaged 7.1 points and 5.7 rebounds last season. Gray played parts of two seasons with the Nets and then Spurs, averaging 9.8 points in his four games.

We have more from the G League:

  • The Cruise and Spurs participated in another multi-team trade, with Motor City acquiring the rights to Javante McCoy and Reggie Kissoonlal along with unspecified draft capital, according to the log and a team release (Twitter link). Austin obtained the rights to Isaiah Miller and Jaylen Johnson, while the Salt Lake City Stars (Jazz) got a 2025 first round pick and Jayce Johnson. None of those players have yet agreed to sign Exhibit 10 deals, but as teams start fielding their training camp rosters, they’ll be names to monitor. All players involved have previously participated in training camps with NBA teams.
  • The Long Island Nets and Cleveland Charge completed their own trade, with the rights to Trey McGowens heading to Cleveland in exchange for Tray Maddox‘s rights (Twitter link). McGowens signed an Exhibit 10 with Brooklyn last season and averaged 10.1 points in 16 G League games last season. Maddox, a Western Michigan product who went undrafted in 2023, averaged 6.1 PPG last season for the Charge.
  • In case you missed it, Lonnie Walker IV signed an Exhibit 10 deal with the Celtics and may end up playing for their G League affiliate this season, at least to begin the year.
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Thunder Sign, Waive Caleb McConnell, Adam Flagler

October 20th, 2023 at 10:59am CST by Arthur Hill

OCTOBER 20: According to the Thunder, both McConnell and Flagler have been waived, which puts them on track to join the OKC Blue.

OCTOBER 19: The Thunder have signed Caleb McConnell and Adam Flagler, the team announced (Twitter links). Both players were reported to be inking deals with OKC shortly after going undrafted in June.

Hunter Maldonado and K.J. Williams, who signed with Oklahoma City on Wednesday, were waived to make room on the roster (Twitter link).

All four players are likely to wind up with OKC’s G League affiliate, Oklahoma City Blue, and if they all have Exhibit 10 contracts, they’ll be eligible to earn bonuses of at least $75K if they spend 60 days with the team.

McConnell, a two-time Defensive Player of the Year in the Big Ten, averaged 9.1 points, 5.5 rebounds, 3.1 assists and 2.5 steals last season at Rutgers. Flagler was an AP All-American honorable mention last season at Baylor, averaging 15.6 points, 4.6 assists, 2.4 rebounds and 1.2 steals. McConnell and Flagler both played for the Thunder during Summer League.

The moves leave Oklahoma City with a full offseason roster of 21 players.

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Thunder To Sign Caleb McConnell To Exhibit 10 Deal

June 23rd, 2023 at 9:17am CST by Luke Adams

The Thunder are signing former Rutgers wing Caleb McConnell to an Exhibit 10 contract, according to the school.

McConnell, who went undrafted on Thursday, spent five years at Rutgers, taking advantage of the extra year of NCAA eligibility he was granted due to COVID-19. As a super-senior in 2022/23, he averaged 9.1 PPG, 5.5 RPG, 3.1 APG, and 2.5 SPG in 28 contests (33.7 MPG).

McConnell isn’t much of a threat on offense. He shot 39.0% from the floor over the course of his college career, including just 26.3% on three-pointers. However, he became the Scarlet Knights’ all-time leader in steals and won a pair of Big Ten Defensive Player of the Year awards.

McConnell’s Exhibit 10 contract should give him an opportunity to suit up for the Thunder’s G League affiliate, the Oklahoma City Blue, as a rookie in 2023/24. He could earn a bonus worth up to $75K if he’s waived by the Thunder and then spends up to 60 days with the Blue. McConnell’s Exhibit 10 deal could also be converted into a two-way contract if OKC decides it wants to keep him on the NBA roster.

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Draft Notes: K. Murray, Rankings, Prosper, Wolves, W. Green

June 17th, 2023 at 9:25am CST by Luke Adams

Iowa forward Kris Murray, the twin brother of Keegan Murray, received an invite to the NBA draft’s Green Room next Thursday, a source tells Jonathan Givony of ESPN (Twitter link). However, Murray has decided to turn down the invite, opting to watch the draft at home with his family rather than attending the event in person, per Givony.

Here’s more on the 2023 NBA draft:

  • Sam Vecenie of The Athletic published his final pre-draft rankings this week, listing the top 100 players in the 2023 class and providing full scouting reports for the top 75. Vecenie’s 179-page PDF draft guide is incredibly in depth and is worth checking out for anyone with a subscription to The Athletic. The most notable deviation from the norm at the top of Vecenie’s draft board is his decision to rank Cam Whitmore at No. 3, one spot ahead of Brandon Miller.
  • Marquette forward Olivier-Maxence Prosper, the No. 29 player on ESPN’s big board and the No. 24 prospect in Vecenie’s rankings, tells Givony (Twitter link) that there’s “no reason” he shouldn’t be a first-round pick. “My game translates really well to the NBA,” Prosper said. “It’s a positionless league, and wings like me who can guard multiple positions, finish in transition and make threes find ways to make winning plays and impact games.”
  • The Timberwolves hosted a pre-draft workout on Friday that featured Damion Baugh (TCU) Marcellus Earlington (San Diego) Caleb McConnell (Rutgers) Mike Miles Jr. (TCU) Justyn Mutts (Virginia Tech), and Race Thompson (Indiana), according to the team (Twitter link). The Nets are among the other teams to have worked out Thompson, adds Darren Wolfson of 5 Eyewitness News (Twitter link).
  • Former Auburn guard Wendell Green worked out for the Rockets this week, tweets Brian Lewis of The New York Post.
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Southeast Draft Notes: Miller, Hornets, Council, Smith

June 12th, 2023 at 7:00pm CST by Dana Gauruder

The Hornets hold the No. 2 pick and Alabama forward Brandon Miller will work out for them on Tuesday, Ashley Stroehlein of WCNC tweets. Miller and G League guard Scoot Henderson are the top contenders to be chosen at the No. 2 spot. It was previously reported that Miller was scheduled to work out for Charlotte on Tuesday and the plans obviously didn’t change. In fact, he has already arrived in Charlotte.

We have more draft-related news from the Southeast Division:

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Lakers Notes: Davis, Russell, Paul, Draft

June 8th, 2023 at 2:23pm CST by Rory Maher

A primary goal for the Lakers this offseason will be signing Anthony Davis to an extension, Brian Windhorst of ESPN said earlier this week on Get Up (YouTube link).

As Windhorst notes, Davis won’t be extension-eligible until August, at which point the Lakers could offer him a three-year contract worth a projected $167.5MM. If the two sides can’t reach an agreement on a new deal, Davis could enter unrestricted free agency in 2024 if he declines his $43.2MM player option for 2024/25.

At this time, Windhorst also believes the Lakers will continue on their stated path of re-signing their own key free agents — including Austin Reaves and Rui Hachimura — instead of creating cap room in pursuit of Kyrie Irving. Windhorst thinks the mostly outcome for Irving is re-signing with the Mavericks, noting that they can pay him much more money than L.A. can.

Here’s more on the Lakers:

  • Guard D’Angelo Russell‘s stock seems to have taken a hit after a poor showing in the Western Conference Finals against the Nuggets. He will be an unrestricted free agent this summer if he doesn’t sign an extension (he’s eligible for a two-year deal). While he might not be the Lakers’ top priority, ESPN’s Zach Lowe suggested on his podcast that a reunion may still be in the cards (hat tip to RealGM). “I actually think there are corners of the organization that would still like D’Angelo Russell back just because they have a void at that position,” Lowe said. “They need a point guard.” Jovan Buha of The Athletic said last week that he thought Russell would most likely end up back in L.A., perhaps on a two- or three-year deal worth around $20MM annually, though it’s far from a lock.
  • Chris Paul‘s uncertain status with the Suns has rivals speculating about his future, and the Lakers are atop the list of his possible suitors, multiple league executives tell Sean Deveney of Heavy.com. “Lakers first,” one Eastern Conference GM texted. “It’s not definite, a lot can happen. But you’d have to start there. He always had (the) dream of being a Laker (and) playing with LBJ (LeBron James).” ESPN’s Adrian Wojnarowski recently cited the Lakers as a potential destination as well, noting that Paul lives in Los Angeles during the offseason.
  • The Lakers will be hosting a pre-draft workout on Thursday, tweets Brad Turner of The Los Angeles Times. The six featured prospects are D’Moi Hodge (Missouri), Caleb McConnell (Rutgers), JT Shumate (Toledo), Logan Johnson (Saint Mary’s), Damion Baugh (TCU) and Matthew Mayer (Illinois). The Lakers currently control two picks in the 2023 NBA draft, Nos. 17 and 47.
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50 Prospects Reportedly Invited To G League Elite Camp

May 5th, 2023 at 8:12am CST by Luke Adams

A total of 50 prospects for the 2023 NBA draft have been invited to the NBA’s G League Elite Camp, according to reports from Adam Zagoria of Forbes and Jonathan Wasserman of Bleacher Report (Twitter links).

Those players are as follows:

The name of the G League Elite Camp is a bit of a misnomer — when first introduced, the event showcased NBAGL players, but the field of participants now consists exclusively of draft prospects. The event will take place on May 13 and 14 in Chicago, ahead of this year’s draft combine.

Like the combine, the Elite Camp brings young players to Chicago to meet NBA teams and participate in drills and scrimmages. While the combine focuses on the top prospects in a given draft class, the Elite Camp generally features prospects who are trying to break into that upper echelon of prospects but are more likely to go undrafted. The top performers at the event typically receive invites to the combine.

Of the 50 G League Elite Camp invitees, 15 show up on Jonathan Givony’s list of this year’s top 100 prospects at ESPN.com. However, no Elite Camp invitee ranks higher than No. 58 (Hart) on ESPN’s board.

The G League Elite Camp will give the invitees who declared for the draft as early entrants an opportunity to see where they stand ahead of the draft withdrawal deadline on May 31. Not all of the players who participate in this event will remain in the draft pool.

Some NBA players who have participated in past G League Elite Camps include Pelicans guard Jose Alvarado, Pacers forward Oshae Brissett, Clippers guard Terance Mann, and Heat wing Max Strus.

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