Knicks complete Mikal Bridges deal, avoid being hard capped at first apron
Mikal Bridges shoots a free throw during a game between the Nets and the Atlanta Hawks at Barclays Center on Saturday, March 2, 2024. Credit: Kathleen Malone-Van Dyke
The Knicks and Nets have agreed on the additional pieces of the deal that will send Mikal Bridges to the Knicks, allowing them to avoid being locked into the first luxury tax apron and retaining the flexibility to add to their roster.
The deal has the Knicks sending the Nets the original reported pieces — Bojan Bogdanovic, four first-round draft picks as well as a pick swap and Milwaukee’s 2025 first-round pick — and now orchestrating a sign-and-trade of Shake Milton and adding Mamadi Diakite, partially guaranteeing his contract for next season.
The Nets will send Keita Bates-Diop to the Knicks in addition to Bridges.
The signing of Milton to a three-year, $9 million deal — with only the first year guaranteed — along with guaranteeing $1.23 million of Diakite’s $2.3 million contract makes up the gap between Bridges’ and Bogdanovic’s contracts so the Knicks do not bring in more money than they send out.
That would have triggered the Knicks into the first apron and locked their cap at $178.132 million for the 2024-25 season. Now the Knicks can accumulate payroll to the second apron level of $188.931 million.
Milton appeared in only six regular-season games and four playoff games for the Knicks. Diakate saw action in three regular-season games and four playoff games.
The Knicks could bring Bates-Diop on board because he is on a guaranteed minimum salary of $2,654,644.
The Knicks also came to terms with first-round pick Pacome Dadiet, an 18-year-old wing, buying out his contract with German team Ratiopharm Ulm. They also signed second-round pick Tyler Kolek to a four-year deal worth approximately $9 million.
With the cap maneuvers, the Knicks are free to sign another big man — most likely their own free agent, Precious Achiuwa — and still sign another player with the mid-level exception of $5.2 million.
Most important for the Knicks, they were able to get under the apron without moving one of their rotation pieces after losing Isaiah Hartenstein in free agency to Oklahoma City.
The deal cannot become official until Saturday.
Steve Popper covers the Knicks for Newsday. He has spent nearly three decades covering the Knicks and the NBA, along with just about every sports team in the New York metropolitan area.