4:18pm: Knight has officially been waived. The Knicks have also signed free agents Mamadi Diakite and Brandon Goodwin to Exhibit 10 contracts (Twitter links). New York now has 20 players under contract.
4:09pm: The Knicks are waiving big man Nathan Knight, league sources tell Fred Katz of The Athletic (Twitter link).
As Katz notes, Knight was signed to a two-way contract, and New York also recently waived Jaylen Martin, so the team now has a pair of two-way spots open.
Knight, who starred in college at William & Mary, has played in 108 NBA games over the past three seasons after going undrafted in 2020. He spent his rookie season with the Hawks on a two-way deal and spent the past two seasons with the Timberwolves.
The Wolves had a minimum-salary team option on Knight for the 2023/24 season but turned it down and opted not to issue him a qualifying offer, so he became an unrestricted free agent on July 1. He signed a two-way deal with the Knicks a couple weeks later.
The 26-year-old forward/center holds career averages of 3.7 points and 2.0 rebounds in 7.8 minutes per night.