JULY 11: The Knicks and Pistons have officially completed their trade, the teams announced today in a pair of press releases.
As expected, the Pistons acquired Noel, Burks, cash, and the team’s own 2023 second-round pick. The second pick Detroit received will be either Minnesota’s or New York’s 2026 second-rounder, rather than the heavily protected Miami 2024 second-rounder described below.
The Knicks, meanwhile, received the draft rights to 2015 second-rounder Nikola Radicevic and a protected 2025 second-round pick. That pick will have top-55 protection, tweets Fred Katz of The Athletic.
The Knicks will unload more than $19MM in 2022/23 salary in the deal, providing ample cap space to sign free agent guard Jalen Brunson. Noel has a $9.24MM salary next season, while Burks is due approximately $10MM.
Both players are signed through the 2023/24 season, but there are team options in the final year of their respective contracts — Noel at $9.68MM and Burks at approximately $10.5MM. Thus, those salaries could come off the Pistons’ cap next summer.
New York will send Detroit back its 2023 second-round pick, plus the Heat’s 2024 second-round pick (top-55 protected) and $6MM in cash as sweeteners to take those contracts off its books, Wojnarowski reports in a separate tweet.
The Pistons can absorb those salaries without sending out any contracts, since they were projected to have more cap space than any other team. The Knicks, meanwhile, should have now the cap room necessary to sign Jalen Brunson in free agency.
The Knicks and Pistons were also involved in a three-way draft-night agreement that included the Hornets. In that trade, Detroit took Kemba Walker‘s contract off New York’s books and acquired the draft rights to Jalen Duren.
The Pistons plan on keeping Burks and Noel, according to Wojnarowski (Twitter link). Burks, a 38% career 3-point shooter, will give the Pistons a perimeter threat on the wing who can help mentor the young backcourt of Cade Cunningham and rookie Jaden Ivey. Noel provides depth in the middle behind Isaiah Stewart and Duren.