In a stunning move that shook the NBA, the New York Knicks pulled off a huge trade for Karl-Anthony Towns of the Minnesota Timberwolves just as teams were about to start their training camps for the 2024-25 season. The deal was struck as the clock approached midnight.
The trade’s development was somewhat unusual. Initial reports of the major trade surfaced on September 27, yet the deal wasn’t finalized until October 2.
The delay in finalization was due to the complexities introduced by the new Collective Bargaining Agreement, which makes orchestrating such large-scale trades challenging. Both the Knicks and the Timberwolves had to arrange additional components to legally complete the trade. During this process, the Knicks were the first to identify and exploit a loophole in the intricate CBA.
According to Fred Katz of The Athletic, under the CBA’s new terms, the Knicks were not allowed to combine multiple minimum salaries to exceed the first tax “apron.” To navigate this, the management cleverly paid players DaQuan Jeffries, Charlie Brown Jr., and Darius Washington just one dollar more than the minimum salary, allowing them to aggregate the salaries and finalize the trade.
The Knicks have discovered a new loophole in the CBA.
Teams in their situation cannot aggregate minimums anymore. So in the sign and trades of Jeffries, Brown and Washington, they are paying each of those guys just $1 above the minimum, league sources tell @TheAthletic.
— Fred Katz (@FredKatz) October 2, 2024
This maneuver showcases the ingenuity of Leon Rose and the Knicks’ management team.
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