Breaking News: Knicks on Verge of Blockbuster Trade for $220 Million Timberwolves Star
The New York Knicks have already made significant moves this offseason, including trading for Mikal Bridges. However, some analysts suggest the franchise is still pursuing another blockbuster trade.
Bleacher Report’s Casey Powell (aka CP “The Fanchise”) reported that the Knicks are interested in trading for Minnesota Timberwolves star Karl-Anthony Towns. Powell’s assessment came before New York signed Jalen Brunson to a team-friendly extension, which may have improved their position to acquire another star.
Knicks "want Towns…They see what Boston can do with true 5-Out system…We have to monitor this Julius extension…Not necessarily advocating…Just telling you…the interest's real"
– Watch full @CPTheFanchise on KAT including at around :29 & 1 :15 marks: https://t.co/PerBas52pT https://t.co/hRVpIYr09w pic.twitter.com/jIuLpW3WlW
— New York Basketball (@NBA_NewYork) July 9, 2024
“I don’t think they’re [the Knicks] done. I think there’s one more move they want to make,” Powell explained during a July 9, 2024, Bleacher Report live stream. “I think there’s a big swing they want to make. Think about all the moves they made this offseason to get some more wiggle room with the cap.
“They didn’t sign Julius Randle to an extension. They’re bigger fans of Karl-Anthony Towns than Randle. They want Towns. The Timberwolves are in a tricky spot where they could use some savings. And I can tell you, the Knicks want Towns, man.”
Potential Knicks Trade Target Set to Start 4-Year, $220 Million Contract with Timberwolves
Towns signed a contract extension in 2022 that will kick off this coming season. The four-time All-Star’s deal spans four years and is worth $220 million, lasting through the 2027-28 season.
For the 2024-25 season, Towns is expected to have a cap hit of $49.2 million. Additionally, he has a player option that could enable him to opt out of the final year of his contract and become a free agent in 2027.
All of NYC to Jalen Brunson: pic.twitter.com/vYYHTksRrR
— Jeff Eisenband (@JeffEisenband) July 12, 2024
Randle has a player option that could make him a free agent in 2025. Next season, the Knicks All-Star will have a $28.9 million cap hit, meaning the Knicks would need to include additional players in a trade for Towns to fit within the salary cap. Brunson’s contract extension might lead New York to explore further trades.
ESPN’s Adrian Wojnarowski reported on July 12 that Jalen Brunson agreed to a four-year, $156.5 million extension, a significant concession compared to the $269 million deal he could have received in 2025. This move provides the Knicks with greater roster flexibility to pursue championship aspirations.
For a trade to materialize, the Knicks would need the Timberwolves to be equally interested. During the 2023-24 season, Towns averaged 21.8 points, 8.3 rebounds, and 3 assists per game while shooting 41.6% from three-point range in 62 starts.
