Timberwolves stun the NBA by sending Karl-Anthony Towns to the Knicks

The Wolves were reliant on Towns' supermax deal, which gave them limited flexibility going forward. He is expected to make $49 million this season. Rudy Gobert ($44 million) also has a player option after this season, with Connelly saying he hopes the 32-year-old Gobert will retire in Minnesota. Randle has a player option after this season and will make $29 million, while DiVincenzo is under contract for the next three years and will make $11.4 million this season.

Between the player options for Gobert, Randle and Reid, the Wolves have flexibility in who they could sign to longer-term, higher-value deals depending on how this season turns out. The Wolves will save about $9 million in salaries and even more in luxury taxes this season.

The first-round pick the Wolves receive is top-13 protected in 2025, top-11 in 2026 and top-nine in 2027. It will become a second-rounder in 2027 if it doesn't convert by then.

ESPN reported that Charlotte will be a third team included in the deal to make things work out financially for the teams since the Knicks are making more money under the current deal. According to the collective bargaining agreement, this is not allowed for teams above the first apron of the luxury tax. The Hornets will likely receive draft compensation for helping teams complete the deal.

The biggest question for the near future is what impact this trade will have on the Wolves' chances of competing. They were on the verge of the Finals and Towns provided the best one-on-one defense of any player against Denver center and three-time MVP Nikola Jokic last postseason. His physicality against Jokic allowed Gobert to roam the area and helped the Wolves win a seven-game series.

There was a drumbeat from all corners of the fan base to deal Towns in the summer of 2023, but Connelly stood by his belief that the Wolves could be really good at retaining his core group. They went through most of the offseason leading up to Friday night with the same mentality.