The Brooklyn Nets were set to have a ton of cap space this offseason, and they used part of it to acquire Julius Randle in a buy-low move.
On Monday night, the day before the NBA Draft, ESPN’s Shams Charania revealed a blockbuster, three-team trade between the Nets, the Minnesota Timberwolves, and the Chicago Bulls.
Heading to the Nets is Randle and the No. 28 pick in the NBA Draft, which Minnesota previously acquired from the Detroit Pistons. Heading to the Timberwolves is the No. 33 pick in the NBA Draft from the Nets, while the Bulls acquired center Nic Claxton from Brooklyn.
Why Nets Did This Deal
For the Nets, this deal accomplished a few different things for general manager Sean Marks.
First, the team actually improved its draft position, as they went from having the No. 33 pick to the No. 28 pick. That’s always a benefit, as the Nets will have a better chance to acquire the player they want around that position in the draft.
Two, the Nets upgraded on Claxton to Randle, who, despite his flaws, is simply the better NBA player, and one who should excel on the Nets as he could be the team’s primary scoring option next season.
And third, the Nets had tons of cap room to spare. By swapping out Claxton’s $23.3 million salary for next year and taking on Randle’s $33.3 million cap hit, the Nets cut down their cap space. But they still have over $36 million in cap space for next season, so that wasn’t a big deal for them. If anything, it helps the Nets get closer to the cap floor, so it’s a good move for them.
Again, Randle is a really good player, and he should put up big numbers if the Nets keep him on their roster. He has this year remaining on his contract and then a player option for another season after that. He previously played for the New York Knicks and excelled playing in New York, so Brooklyn is a good home for him.
As for losing Claxton, he was a good player for the Nets over the years, but also, the team hasn’t really won anything with him, and it was time to move on.
They have $20.2 million in room remaining and the $9.4 million room mid-level to spend after.
They now have 15 first-round picks through 2033, including two selections tomorrow.
Why the Timberwolves Sold Low on Randle
There is no doubt the Timberwolves sold low on Randle, as they essentially gave him away for free. Considering they traded Karl-Anthony Towns to get him a few years ago, this is not the way that anyone thought Randle’s chapter in Minnesota would end.
But by dealing away Randle, the Timberwolves are now over $43 million under the luxury tax, and they created a massive $33 million trade exception in the deal. The team now has the cap space to re-sign Ayo Dosunmu, something that was a priority for them, and they also get access to other exceptions to sign other players.
Losing Randle is going to hurt in the short term, but the Timberwolves clearly felt they had to make the move for the betterment of their cap, and they pulled the trigger.
Brooklyn: $36.1M in projected cap space available Chicago: $32.5M in projected cap space available
Minnesota: $43.8M under the luxury tax, create a $33.3M TPE
Nets Use Cap Space Advantage to Acquire Julius Randle