Knicks officially acquire Karl-Anthony Towns in three-team wolves and hornets trade

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 top-13 protected first-round pick from New York in 2025 via the Detroit Pistons.

Randle received his full 15% trade bonus as part of the trade, ESPN’s Bobby Marks confirmed. That increases the attacker’s cap for 2024-25 from $28,939,680 to $33,073,920.

Here is the agreed trade data, by source.

The trade call has not yet taken place.

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 maximum price for Randle’s 2025-26 player option ($30,935,520) remains unchanged as the trade bonus does not affect the option years. Towns also had a trade kicker in his contract, but it was voided because he is already earning his max salary.

In addition to landing Towns, New York receives 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

Additionally, Minnesota waived camp signee Jaedon LeDee to make the one-for-three trade possible.

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 the least favorable of the Timberwolves), the Golden State Warriors’ second-round pick in 2026 (from Knicks), New York’s 2031 second-round pick and $7.2 million cash from the Knicks.

We 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 press 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 the roster for the three incoming players.

Knicks welcome Karl-Anthony Towns

“We are extremely excited to welcome Karl-Anthony Towns to the New York Knicks family. Karl-Anthony brings a skill set 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 defense that, combined with his size, allows him to compete at a level that is rare in this league. Karl-Anthony has shown throughout his career to be a high-caliber player and an individual on and off the field who will complement the type of team and culture we continue to build in New York.

.@nyknicks Take over Karl-Anthony Towns pic.twitter.com/72HviQM2fB

— NY_KnicksPR (@NY_KnicksPR) October 2, 2024

Towns, who turns 29 on November 15, grew up just outside 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). Additionally, he shot 50.4% from the field and 41.6% from three-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 reached the Western Conference finals for the first time in twenty years.