The New York Knicks are $300,000 below the “second apron” following their trades for Karl-Anthony Towns and Mikal Bridges. The Knicks are not allowed to exceed the second apron at any point this season.
It’s been great execution of a plan. It’s five years in the making,” Tom Thibodeau said. “It’s accumulating the draft capital, and looking at the opportunities and going step by step and figuring out the things you can do.”
There were a couple of key instances where the Knicks were able to lower their 24-25 cap to eventually execute the Towns’ trade. For example, Jalen Brunson’s contract signed in 2022 declined by $1.3 million from last season to this season. Mitchell Robinson’s contract also declined by $1.3 million from last season to this season. The Knicks also declined to extend a qualifying offer to Precious Achiuwa that saved them $300,000 over what he would have cost them if they extended it to him and he signed it. Finally, the Knicks signed Pacome Dadiet to a contract at 80 percent of his preassigned salary slot for the first year, which saved $800,000.
Knicks vice president of strategic planning Brock Aller is credited with leading much of the team’s cap saving transactions.
“Brock has been terrific,” said Thibodeau, who previously ran the Timberwolves’ front office. “And it’s not easy. It’s your immediate plan and also your future plan. You have to look at it in almost three different ways. There’s the basketball standpoint, what does it mean for what’s on the floor? Then there’s the financial impact. Then there’s also the penalty aspect that you have to look at as well. So all three things before you make a decision you have to dig deep on. So they’ve done a great job.”