After trading for Mikal Bridges from the Brooklyn Nets ahead of the start of NBA free agency, the New York Knicks have expanded on their deal to acquire the two-way wing. Due to the fact that this trade has yet to be finalized, the Knicks have found a way to give themselves a little extra financial flexibility by sending Shake Milton to the Nets on a new three-year, $9 million sign-and-trade agreement, according to The Athletic's Shams Charania.
The main reason for expanding this trade and including more assets from the Knicks' perspective is simply a means to work with the new first and second tax aprons. NBA teams have been very cognizant of the new tax lines, and New York made it a point of emphasis to not be hard-capped as a result of this Bridges trade. Due to acquiring Bridges' $23.3 million contract and only sending out Bojan Bogdanovic's $$19 million, the Knicks would have been hard-capped at the $178 million first apron.
By signing and trading Milton to the Nets on a new contract, the Knicks are able to accomplish their main goal of maintaining financial flexibility without being hard-capped. As part of this extension of the Bridges trade, the Nets are sending Keita Bates-Diop to New York. The Knicks are also sending Mamadi Diakite to the Nets, according to The Athletic's Fred Katz. Diakite was the extra salary slot needed to complete this transaction from a financial perspective.
As a result of not being hard-capped at $178 million, the Knicks can now expand their total roster salary allocation for the 2024-25 season. More importantly, they are now about $16.9 million below the second apron, which opens up the possibility of them bringing back free agent big man Precious Achiuwa and use the $5.2 million taxpayer mid-level exception, according to NBA capologist Yosi Gozlan.
The idea of retaining Achiuwa has to be attractive to the Knicks' front office after the completion of this trade for Bridges, especially after they lost Isaiah Hartenstein in free agency to the Oklahoma City Thunder.
The only holdup with this trade between the Nets and the Knicks was figuring out the financial situations. The Knicks have avoided the hard cap, and they can now address the rest of their roster in free agency with Achiuwa's new contract and minimum-like contracts. The Nets acquired Milton via a sign-and-trade, so they will now be hard-capped at $178 million for the 2024-25 season as they enter a rebuild.
Breaking down Knicks, Nets trade involving Mikal Bridges
The trade between the Knicks and Nets now appears to be complete and will await finalization from the league office before it can be officially announced.
When all is said and done, this is a trade that will involve many moving pieces, as the Knicks were very creative with their ways to move and reclaim future assets during the offseason. New York adds Bridges to their roster, forming one of the best starting groups in the league in terms of two-way play. The duo of OG Anunoby and Bridges on the wing will be deadly.
The Knicks were also very busy in trade talks during the 2024 NBA Draft. After moving up and down the draft board, the Knicks came away with Pacome Dadiet, Tyler Kolek, and Ariel Hukporti. They also claimed future second-round assets by moving down in the second round.
Essentially, the Knicks were able to acquire Bridges in a unique way that allowed them to avoid the hard cap. Bridges and Bates-Diop are the only players heading to New York.
From the Nets' perspective, this trade was all about getting valuable draft picks that they did not have as a result of bringing in the likes of Kevin Durant, Kyrie Irving, and James Harden. Brooklyn was able to add five first-round picks and a future first-round swap, as well as Bogdanovic and now Milton. Diakite is also heading to the Nets as part of this mega trade, but his contract will become partially guaranteed, making him a player that could be waived upon completion of the deal.
Finally, the Knicks have reached a conclusion in their efforts to acquire Bridges. In doing so, they have kept themselves in a position to still add talent to their roster without having to dodge the hard cap.
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