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How Much Money Will Minnesota Timberwolves Save from Karl-Anthony Towns Trade? Report
Karl-Anthony Towns is a part of the blockbuster trade between New York Knicks and Minnesota Timberwolves.
On Friday, Minnesota made a startling move to advance trade negotiations with the New York Knicks for their longest-tenured player, four-time All-Star Karl Towns. The Timberwolves, who started with Towns as their starting four, recently made their first conference final appearance in 20 years, which prompted the move.
NBA salary cap expert Yossi Gozlan pointed out that by dealing Towns, the Wolves will avoid paying $26.5 million in payroll taxes and luxury tax fines. Minnesota is still expected to finish above the $188.9 million second apron next season, according to Gozlan.
Rudy Gobert, who is currently eligible for an extension, might choose to do so at a lower starting salary, which would put the Timberwolves in a better position to sign Naz Reid again when the summer rolls around, according to Gozlan.
Towns, 28, is about to start the first year of a new $220 million, four-year contract. In the meantime, Donte DiVincenzo (three years and $36 million) and Julius Randle (two years and $50 million remaining on his contract), the incoming trade pieces, are on much more reasonable contracts.
NBA teams have been forced to make drastic salary-cutting moves this offseason in order to reduce costs because of the extremely harsh penalties for being in the second apron (no access to the taxpayer midlevel exception, no aggregating salaries in trades, no ability to sign outside free agents for more than the veteran's minimum, possible freezing of draft picks, etc.).
Even though the Timberwolves' new ownership group is known to be concerned about potential payroll cuts, fans may not think favorably of Minnesota's trade of Towns, even though it may have been primarily driven by financial considerations.
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