Late Friday, the New York Knicks and Minnesota Timberwolves agreed to a blockbuster trade that will send four-time All-Star Karl-Anthony Towns to New York in exchange for Julius Randle, Donte DiVincenzo, a protected first-round pick from the Detroit Pistons, and other spare pieces.
BetMGM has already adjusted New York's odds to win the NBA Championship from +900 to +700 following the initial news, with the Knicks now having the third-shortest odds behind only the Boston Celtics and Oklahoma City Thunder.
BetMGM PR Manager John Ewing noted, "The Knicks are our fifth biggest liability to win the NBA Championship. They are also the biggest liability to win the Eastern Conference at BetMGM," emphasizing the team's rising expectations.
This deal required the involvement of the Charlotte Hornets as a third team, highlighting the financial complexities under the NBA's new Collective Bargaining Agreement, and allowing the trade to proceed smoothly.
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