The Karl-Anthony Towns blockbuster trade involving the New York Knicks, Minnesota Timberwolves, and Charlotte Hornets was made official on Tuesday, according to press releases from each of the three teams.
New York Knicks traded Julius Randle, Donte DiVincenzo to Minnesota Timberwolves for Karl-Anthony Towns
The Knicks traded Julius Randle and Donte DiVincenzo to Minnesota for Towns, and the Timberwolves received a 2025 top-13-protected first-round pick from New York via the Detroit Pistons.
Randle received his full 15% trade bonus as part of the transaction, confirms ESPN’s Bobby Marks. That raises the forward’s cap hit for 2024-25 from $28,939,680 to $33,073,920.
Here are the agreed trade details, per sources.
The trade call has not taken place yet.
New York receives: Karl-Anthony Towns (from MIN) and the draft rights of James Nnaji (from Charlotte)
Minnesota receives: Julius Randle (from NYK), Donte DiVincenzo (from NYK), Keita…
— Bobby Marks (@BobbyMarks42) October 2, 2024
The cap charge for Randle’s 2025-26 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.
In addition to landing Towns, New York is receiving the draft rights of James Nnaji (from Charlotte). Keita Bates-Diop was also acquired by the Timberwolves.
Hornets receive three draft picks, three players, and $7.2 million in cash
Furthermore, Minnesota waived camp signee Jaedon LeDee in order to accommodate the one-for-three swap.
The Hornets received DaQuan Jeffries (sign-and-trade), Charlie Brown Jr. (sign-and-trade), Duane Washington (sign-and-trade), either the Denver Nuggets’ or Philadelphia 76ers’ 2025 second-round pick (whichever is least favorable from Timberwolves), the Golden State Warriors’ 2026 second-round pick (from Knicks), New York’s 2031 second-round pick, and $7.2 million cash from the Knicks.
We’ve acquired Charlie Brown Jr., DaQuan Jeffries, Duane Washington Jr, three picks, and cash considerations in a three-team trade with the Timberwolves and Knicks.
Read the release: https://t.co/zmB29obijz | @CorcoranHM pic.twitter.com/Az9QqRtYVC
— Charlotte Hornets (@hornets) October 2, 2024
The three players the Knicks signed-and-traded to Charlotte will each earn $1 more than their respective minimum salaries. That means $2,425,404 for Jeffries, $2,237,692 for Brown, and $2,162,607 for Washington.
Charlotte cut guards Marcus Garrett and Caleb McConnell to make room on its roster for the three incoming players.
Knicks welcome Karl-Anthony Towns
“We are beyond excited to welcome Karl-Anthony Towns to the New York Knicks family. Karl-Anthony brings a skillset that is unique to the game of basketball,” Knicks president of basketball operations Leon Rose said in a statement.
“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.”
.@nyknicks Acquire Karl-Anthony Towns pic.twitter.com/72HviQM2fB
— NY_KnicksPR (@NY_KnicksPR) October 2, 2024
Towns, who turns 29 on Nov. 15, grew up just outside of New York City in central New Jersey. Last season in Minnesota, he averaged 21.8 points and 8.3 rebounds in 62 games (all starts). Plus, he shot 50.4% from the field and 41.6% from 3-point range.
The 7-footer helped Minnesota advance in the playoffs for the second time in the franchise’s 35-year history. The Wolves also made the Western Conference finals for the first time in 20 years.
