Full Breakdown
Knicks Trade Out of First Round, Secure Five Second-Round Picks and Cash
6/25/2026, 12:20:55 AM
Draft-Day Maneuvering
On June 23-24, 2026, the Knicks turned the No. 24 pick into five second-round selections and cash. They swapped No. 24 for No. 25 with the Lakers, selected Sergio De Larrea, traded him to the Mavericks for the No. 25 slot and two second-rounders, then sent the Mavericks’ No. 30 pick, Koa Peat, to the Suns for three more second-rounders and cash.
Background & Context
After winning the championship, the Knicks faced a tight salary-cap and the NBA’s “second apron” limit. Owner James Dolan has said he wants to stay below it. First-round rookie contracts are guaranteed; the No. 24 pick would have earned roughly $3.5 million, so the team prioritized cap flexibility.
Timeline of Trades
The Knicks traded No. 24 to the Lakers for No. 25 on June 23, selected De Larrea, then moved him to the Mavericks for No. 25 and two second-rounders, and on June 24 sent Koa Peat to the Suns for three second-rounders and cash.
Data & Statistics
The No. 24 rookie contract would have been about $3.5 million. The trades leave the Knicks roughly $16.5 million under the second apron. De Larrea posted 9.7 points, 3.7 assists and 3.0 rebounds in the 2025-26 Liga ACB season, shooting 40.7 % from three, and earned MVP honors in the 2025 Spanish Supercup. The Knicks now hold second-round picks at Nos. 31, 47, 55 plus three pending slots.
Why It Matters
Skipping a first-round salary frees cap space for free agents like Mitchell Robinson, Landry Shamet and Jordan Clarkson. The added second-round picks provide low-cost depth or trade assets. For the Mavericks, De Larrea adds a high-upside guard without sacrificing draft capital.
Official Statements & Responses
Knicks president Leon Rose indicated the goal was to avoid a first-round salary and said the trades accomplished the objective without attaching capital. Mavericks president Masai Ujiri described the deal as aggressive and aligned with the team’s retooling strategy. The NBA’s trade tracker recorded the exchange of picks and cash.
Criticism & Opposition
Analysts warn the Knicks’ habit of trading first-round picks may erode long-term talent depth, suggesting the team could have kept a first-round prospect for roster depth.
Conflicting Reports & Gaps
The exact cash exchanged and the identities of the three Suns second-round picks remain undisclosed. De Larrea’s decision to join the Knicks this season versus staying in Europe is also unconfirmed.
Verbatim Quotes
- “So Knicks move out of the first round — pick up 5 seconds and cash.” — Shams Charania, NBA reporter
- “They can find players on veteran minimum deals to fill those roles.” — New York Post
- “De Larrea led Valencia to the Spanish Supercup title and won MVP honors, so he is definitely a talented player.” — Posting and Toasting
What’s Next
The Knicks will pursue free-agent signings while monitoring cap implications, and the Mavericks will develop De Larrea, likely beginning with a summer-league stint before the 2027 draft.
