The New York Knicks are ready to cut their losses on Cam Reddish, according to HoopsHype's Michael Scotto.
Scotto reported the Knicks are prepared to accept two second-round picks in return for Reddish.
On Dec. 22, the Los Angeles Times' Dan Woike reported New York was holding out for a protected first-round pick. The team gave up a protected 2022 first-rounder along with Kevin Knox II when it acquired the 23-year-old, Solomon Hill and a 2025 second-round pick from the Atlanta Hawks last season.
The Knicks have apparently reached the conclusion that something is better than nothing.
Reddish is eligible for restricted free agency in the offseason. Re-signing him or even extending the $8.1 million qualifying offer seems unlikely when he has fallen out of the rotation entirely.
The 6'8" wing hasn't stepped onto the court since a 121-100 loss to the Dallas Mavericks on Dec. 3.
The Knicks are shouldering the cost for overpaying for Reddish in the first place. He wasn't working out with the Atlanta Hawks, who selected him 10th overall in 2019, and seemed like only a matter of time until his contract status became a problem.
New York bet on his upside in what felt like a reasonable swap at the time, and that gamble has backfired in a big way.
Through four seasons, Reddish is averaging 10.2 points and 3.0 rebounds while shooting 32.2 percent from beyond the arc. Sure, there may be some untapped potential, but making that sales pitch is more difficult now. Any team acquiring him has to ponder his value this summer as well.
Two second-round picks wouldn't help the Knicks that much, yet that's a better return than simply letting Reddish walk in the offseason.