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The Timberwolves and Knicks are close to completing a blockbuster deal that will send Karl-Anthony Towns to New York.

The Knicks’ package will center around Julius Randle and Donte DiVincenzo, according to The Athletic’s Shams Charania and Jon Krawczynski. Krawczynski adds (via Twitter) that Keita Bates-Diop is headed from New York to Minnesota too.

Minnesota is also receiving the first-round pick that the Pistons owe the Knicks, according to Steve Popper of Newsday (Twitter link). That first-rounder is for 2025, but is top-13 protected. If it lands in its protected range, it would roll over to 2026 (top-11 protected) and 2027 (top-nine protected) before turning into a ’27 second-round pick.

The Knicks are sending DaQuan Jeffries and draft compensation to the Hornets to help facilitate the deal, Charania adds (Twitter link). Charlotte will also acquire cash from New York, per Roderick Boone of The Charlotte Observer.

Jeffries’ new contract is expected to start around $3MM, tweets Ian Begley of SNY.tv. It will have to cover three seasons, but only the first must be guaranteed.

The parties are still working through the details, as the Knicks will need to more salary to make the trade legal, but talks intensified over the last 24 hours, ESPN’s Bobby Marks tweets. It’s a stunning turn of events right before the start of training camp. New York was already involved in a major deal this offseason, trading for the Nets’ Mikal Bridges.

The addition of Towns would give the Knicks more flexibility with their lineup but would come at a large long-term cost in terms of payroll. Towns’ monster four-year, $220MM super-max extension kicks in this season. He’s due to make $49,205,800 this season and his salary escalates over the life of the contract.

Randle has a $28,939,680 salary this season and holds a $30.9MM player option next offseason. DiVincenzo is in the second year of a four-year, $46.87MM contract, including a $11,445,000 salary this season.

Neither the Knicks nor the Timberwolves can take back more money than they send out, since both teams are operating above the $178.1MM first tax apron, cap expert Yossi Gozlan points out (Twitter link). The Wolves are currently over the second apron as well.

Randle also has a trade bonus worth $4.1MM that will be triggered as a result of the deal, according to Gozlan (Twitter link). Trade kickers can be waived partially or entirely to help accommodate a move, though there’s been no indication yet that the forward will do so.

Long-term salary cap implications would certainly factor into Minnesota’s decision, if the deal goes through. Moving off of Towns’ pricey contract will help the Wolves keep the rest of their core together and eventually extend key frontcourt pieces like Rudy Gobert and Naz Reid during a tumultuous time for team ownership. Towns has also suffered a number of injuries during his career, which could also be a factor in the Timberwolves’ thinking.

Towns will give the Knicks a dynamic frontcourt scoring option to complement All-Star guard Jalen Brunson. He could also fill the center spot, which is in flux with Mitchell Robinson sidelined by injury and Isaiah Hartenstein signing as a free agent with Oklahoma City, and slide over to the power forward position at times when Robinson returns. A league source tells Stefan Bondy of The New York Post (Twitter link) that the club views Towns as an ideal complement to its core of Brunson, Bridges, and OG Anunoby.

As Charania and Krawczynski write, Towns grew up as a Knicks fan near New York City and had long been on the team’s radar. The four-time All-Star is also a client at CAA, the former agency of current Knicks president of basketball operations Leon Rose. The Knicks contacted the Wolves about Towns repeatedly over the last two years, sources tell The Athletic, and “stepped up” their pursuit in recent days, tweets Chris Hine of The Star Tribune.

Still, Towns – who had been in Minnesota since being drafted first overall by the team in 2015, had been fiercely loyal to the Wolves over the year, sticking with the team through some challenging years and repeatedly professing a desire to remain with the organization for his entire career. He was “stunned” by the news of the trade, a source tells The Athletic.

It’s also worth noting that Towns and Knicks head coach Tom Thibodeau had a somewhat strained relationship during their overlap in Minnesota from 2016-19, though Krawczynski says Towns has moved past that and holds “no ill feelings” toward Thibodeau.

Randle will replace Towns as the Timberwolves’ power forward, though Reid – a better long-distance shooter than Randle and a good fit next to Gobert – also figures to play a key role in filling the hole created by Towns’ departure.

Sources tell Ramona Shelburne of ESPN (Twitter link) that the Knicks and Randle – who spent the offseason recovering from shoulder surgery – hadn’t made any progress in contract extension negotiations, which made the club more inclined to move him. The Pistons, Hawks and Heat are among the other teams the Knicks talked to regarding potential Randle trades, Begley tweets.

DiVincenzo will provide Minnesota with a solid three-point shooting wing. He’s coming off a career year in which he averaged 15.1 points per game.

As Jake Fischer tweets, the Timberwolves targeted DiVincenzo when he was a free agent in 2023 and he reciprocated their interest at the time before choosing the Knicks. DiVincenzo’s inclusion in the deal was a sticking point for the Wolves, who became “very intrigued” once the Knicks were willing to put him on the table, says Begley (Twitter link).

According to Krawczynski, the Wolves believe the added flexibility the trade provides will put them in a better position to contend in the long-term and maximize Anthony Edwards‘ window.

Luke Adams contributed to this story.