Overview
- Knecht agreed to the two‑way deal with New York on Friday, Oct. 23, 2026, after clearing waivers following his release by the Lakers.
- To open the slot the Knicks are waiving Kevin McCullar Jr., moving Knecht onto a contract that pays about $678,882 and keeps him off the standard salary cap.
- A two‑way contract allows Knecht to play up to 50 regular‑season NBA games while spending most time with the G League affiliate and requires a promotion to be eligible for the postseason.
- Los Angeles waived Knecht to meet a roster cutdown and absorb roughly $4.2 million in dead cap because the team could not find a trade for his guaranteed salary.
- Knecht was a 2024 first‑round pick whose role fell after a rescinded 2025 trade, reduced minutes under JJ Redick, and defensive and processing limits, making him a reclamation target for teams including Minnesota, Sacramento and Toronto.