New York leapfrogged Philly and only trails Boston and Oklahoma City.
Late Friday, the New York Knicks and Minnesota Timberwolves agreed to a blockbuster trade that will send four-time All-Star Karl-Anthony Towns to New York in exchange for Julius Randle, Donte DiVincenzo, a protected first-round pick from the Detroit Pistons, and other spare pieces.
The rare between-contenders trade will surely impact the NBA next season one way or another, particularly in terms of title odds and roster restructuring for both New York, Minnesota, and some of their head-to-head rivals.
Although the trade is not official yet—reports talk about an “early” announcement this week, which should be today or tomorrow at the latest—BetMGM has already adjusted New York’s odds to win the NBA Championship from +900 to +700 following the initial news.
The Knicks now have the third-shortest odds behind only the Boston Celtics (+325) and the Oklahoma City Thunder (+675).
Additionally, New York’s projected win total for the season has risen to 54.5 wins, placing them behind only the Celtics (58.5) and Thunder (56.5) in the league.
NBA Championship Odds Movement — Before/After KAT Trade
- Celtics: +310 / +325
- Knicks: +900 / +700
- 76ers: +900 / +1000
- Timberwolves: +1100 / +1000
NBA Eastern Conference Odds Movement — Before/After KAT Trade
- Celtics: +160 / +170
- Knicks: +425 / +275
- 76ers: +450 / +475
- Bucks: +725 / +900
BetMGM PR Manager John Ewing spoke about those changes with The Athletic on Monday.
“The Knicks are our fifth biggest liability to win the NBA Championship.
“They opened at +1600 and have quickly seen their odds drop throughout the offseason.
“The Knicks are also the biggest liability to win the Eastern Conference at BetMGM.” — BetMGM PR Manager John Ewing
The deal required the involvement of the Charlotte Hornets as a third team to help facilitate the financial complexities under the NBA’s new Collective Bargaining Agreement.
Charlotte will absorb some of the salary to make the deal possible, receiving draft compensation in return for their assistance, as well as upcoming-sign-and-traded Knicks Charlie Brown Jr., DaQuan Jeffries, and Duane Washington Jr.
The trade also marks a homecoming for Karl-Anthony Towns, who grew up in New Jersey, just under an hour from New York City, and always cheered for the Knicks.
KAT is in the first season of a four-year, $220 million supermax contract extension he signed in 2022.
Towns will reunite with coach Tom Thibodeau, who previously coached him in Minnesota from 2016 to 2019. KAT joins newcomer Mikal Bridges, acquired earlier this offseason in another mega-trade that emptied the Knicks’ draft-pick tank.
The Knicks and Timberwolves are set to meet in a preseason game on October 13 at Madison Square Garden. Both franchises will face each other twice next season, with their first matchup coming on December 19 in Minneapolis.