New York will also sign-and-trade a few players to the Charlotte Hornets.
The New York Knicks have waived forwards Marcus Morris Sr. and Chuma Okeke, the team announced on X.
Knicks waive Marcus Morris Sr. and Chuma Okeke
— NY_KnicksPR (@NY_KnicksPR) September 28, 2024
Morris signed an Exhibit 9 deal on Sept. 15, while Okeke inked an Exhibit 10 contract on Aug. 1. With both players signed to non-guaranteed camp contracts, by placing them on waivers the Knicks will have no further financial obligations to either.
Morris, 35, boasts 13 years of NBA experience. Last season, Senior split the year between the Philadelphia 76ers and the Cleveland Cavaliers. He averaged 6.4 points and 2.7 rebounds over 49 games, and according to recent reports, he was a near lock to land a standard contract with the Knicks. Obviously, the addition of Karl-Anthony Towns on Friday changed New York’s plans entirely.
Okeke, 26, is a former No. 16 pick from the 2019 NBA Draft and he’s only known one franchise, the Orlando Magic. Last year, he averaged 2.3 points and 1.7 rebounds in 47 games. If Morris was superfluous, it was crystal-clear Okeke was too.
As both the Knicks and Timberwolves are navigating salary cap constraints, including their positions near different luxury tax aprons, the trade is complicated by league financial rules and the final shape of the trade is still unknown.
Knicks now have 3 open roster spots to sign-and-trade the 3 players they need to complete this deal, DaQuan Jeffries, Charlie Brown Jr. and Duane Washington Jr. I believe it has to be all 3, adding to at least $6.2 million but at no more than 120% of their minimum, because BYC… https://t.co/DZfCrqW5sc
— John Hollinger (@johnhollinger) September 28, 2024
According to The Athletic’s John Hollinger, the Knicks will need to complete multiple sign-and-trade agreements with DaQuan Jeffries, Charlie Brown Jr., and Duane Washington Jr. to make the deal work under the CBA.
Hollinger estimated that the Knicks need to match at least $6.2 million in salaries for the trade but can’t exceed 120% of the players’ minimum salaries due to Base Year Compensation (BYC) rules.
The Charlotte Hornets have reportedly joined the transaction as a third team, agreeing to absorb the Knicks’ sign-and-trade players using their room exception. In exchange, Charlotte will receive future draft assets, likely second-round picks, as compensation for facilitating the trade.
As things stand, the Knicks are sending out Randle, DiVincenzo, and Diop to Minnesota, and Jeffries, Brown Jr., and Washington Jr. to Charlotte. They are only getting Towns in return.
If all of the aforementioned moves become official, this would be the final Knicks roster for the 2024-25 season, pending what happens with Landry Shamet who is on another Exhibit 9 contract.
