Knicks' Updated Salary Cap After Shake Milton Rumored Trade in Mikal Bridges Deal

The Mikal Bridges trade appears to be fully completed with the New York Knicks gaining a bit of flexibility with the salary cap.

The Knicks are now under the first apron and have $17 million in second apron cap space for 2023-24, per Bobby Marks of ESPN.

Shams Charania of The Athletic reported that the New York Knicks agreed to a sign-and-trade that will send Shake Milton to the Brooklyn Nets. This completes the Bridges trade, and also sends Keita Bates-Diop to the Knicks.

Milton will sign a three-year, $9 million deal prior to being sent over to Brooklyn. The deal has only one guaranteed year, which is for the 2024-25 season.

The deal helps close the gap in salaries between Bridges and Bojan Bogdanovic, who were the primary pieces of the June trade. Marks reported that the Knicks were able to use non-bird rights on the Milton deal, and are guaranteeing $1.23 million of Mamadi Diakite's contract, which also went to the Nets in the deal.

New York is currently paying $172 million in salary for next season. That number is aided by first-round pick Pacome Dadiet, who signed a rookie deal that was 80 percent of the rookie scale, per Fred Katz of The Athletic.

Here is a look at how the Knicks roster is currently shaping up.

Starters:

Jalen Brunson

Mikal Bridges

OG Anunoby

Julius Randle

Mitchell Robinson

Reserves:

Deuce McBridge

Donte DiVincenzo

Josh Hart

Pacome Dadiet

Keita Bates-Diop

Jericho Sims

Tyler Kolek

Kevin McCullar Jr.

Ariel Hukporti

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Milton averaged 4.5 points, 1.6 rebounds and 1.3 assists in 48 games in 2023-24. He split the season between the Minnesota Timberwolves, Detroit Pistons and Knicks, and only suited up in six games for New York.

Still, his presence in the deal is huge for a Knicks as it allows the franchise to bring in a notable player like Bridges without having to take significant penalties due to surpassing the aprons. New York could elect to bring in another player without crossing the second apron, but most likely will hold still and enjoy some monetary flexibility.

The Knicks went 50-32 in 2023-24 and earned the No. 2 seed in the Eastern Conference. New York would fall to the Indiana Pacers in the second round, but hope the offseason additions will help it fare better in 2024-25.