Veteran combo guard Shake Milton and rarely-used forward Mamadi Diakite will join the Brooklyn Nets in a sign-and-trade deal with the New York Knicks. The trade, set to be finalized on Saturday, will see the Nets send power forward Keita Bates-Diop, acquired in the Royce O’Neale trade, to the Knicks.
Sources: The Knicks are signing-and-trading Shake Milton as part of Mikal Bridges/Bojan Bogdanovic trade to the Nets, who will also send Keita Bates-Diop to New York. Milton will sign a three-year, $9 million contract, with over minimum in year one and two non-guaranteed years.
— Shams Charania (@ShamsCharania) July 4, 2024
Shams Charania broke the news on Thursday afternoon. Additionally, Ian Begley of SNY reported that Milton wouldn’t be the only Knick heading to Brooklyn.
Source confirms NYK’s Shake Milton & Mamadi Diakite will be sent to BKN as part of Mikal Bridges trade. Milton will be a sign & trade, which should get NYK enough total salary to avoid 1st apron hard cap. They had at least 1 other deal lined up entering FA to get out of hard cap
— Ian Begley (@IanBegley) July 4, 2024
Milton, a 6’5” combo guard, spent last season with the Knicks, Timberwolves, and Pistons, averaging 1.8 points for the Knicks. Diakite appeared in six games last season with the Knicks and Spurs but did not score.
This trade completes the Mikal Bridges deal, sending Bridges and Bates-Diop to New York in exchange for Milton, Diakite, Bojan Bogdanovic, five first-round picks (four unprotected), an unprotected first-round swap, and a second-round pick.
Milton and Diakite are essentially the “players to be named later” in the blockbuster trade agreed upon before the Draft. The Knicks needed to add salaries to avoid the NBA’s new second apron and hard cap.
Signing Shake Milton at the end of the season allows this deal to be completed.
Because minimum contracts are not allowed to be stacked, New York is allowed to use non-bird rights (120% of $2.5M)= $3.033M for Milton.
To make the money work, New York is guaranteeing $1.23M of… https://t.co/DHUfPg5ick
— Bobby Marks (@BobbyMarks42) July 4, 2024
Bobby Marks provided additional analysis, and Yossi Gozlan reported that the Nets will generate a new trade exception, leaving them with only $13 million below the luxury tax threshold.
The Brooklyn Nets are set to create a $23.3 million trade exception. This would require absorbing Bojan Bogdanovic’s $19 million salary into an existing $20.3 million trade exception.
They’re $13 million below the $170.8 million luxury tax line with 13 players.
— Yossi Gozlan (@YossiGozlan) July 4, 2024
Trade Summary:
**Knicks acquire:**
– Mikal Bridges
– Keita Bates-Diop
– 2026 Knicks second-round pick (protections?)
**Nets acquire:**
– Bojan Bogdanovic
– Shake Milton
– Mamedi Diakite
– 2025 Knicks first-round pick (unprotected)
– 2025 Knicks second-round pick (protections?)
– 2025 Bucks first-round pick (protected 1-4)
– 2027 Knicks first-round pick (unprotected)
– 2028 Knicks first-round swap (unprotected)
– 2029 Knicks first-round pick (unprotected)
– 2031 Knicks first-round pick (unprotected)
– $23.3 million trade exception expiring July 6, 2025
The Nets also recently completed a trade with the Rockets, retrieving their 2026 first-rounder and 2025 first-round swap rights in exchange for four future draft assets.
The Nets now hold 16 first-round picks and swap rights, as well as 11 second-round picks, the largest stash in the NBA, surpassing the Oklahoma City Thunder.
In free agency, the Nets have agreed to re-sign Nic Claxton to a four-year, $100 million contract and made Trendon Watford a restricted free agent. The Knicks trade and Claxton signing are expected to be announced by Monday morning, along with other potential deals. The Nets have two trade exceptions expiring soon: $11.9 million from the Joe Harris trade and $6.8 million from the Patti Mills trade. They are also reportedly in discussions about Dorian Finney-Smith and Cameron Johnson. The Nets have access to a $12.9 million MLE and a $4.7 million BAE, but are only $13 million below the luxury tax threshold.
