The New York Knicks engaged in a series of trades during the second round of the 2026 NBA Draft, continuing a strategy aimed at avoiding the financial and roster repercussions of exceeding the league's second salary cap apron. In their latest move, the Knicks sent picks No. 31 and No. 55 to the Houston Rockets in exchange for picks No. 39 and No. 53, along with a 2029 second-round selection.
Earlier in the draft proceedings, team owner James Dolan had expressed a desire to steer clear of the second apron. This directive influenced the team's approach to the draft, prioritizing the reduction of salary cap commitments. First-round picks typically come with guaranteed contracts that add to a team's payroll.
The Knicks, who initially held the No. 24 overall pick, made several transactions on Tuesday night, ensuring no additional salary was added to their ledger. The team traded the No. 24 pick to the Los Angeles Lakers for the No. 25 selection and cash considerations. The Lakers subsequently used the No. 24 pick to select Cameron Carr from Baylor.
With the No. 25 pick, the Knicks selected Spanish player Sergio De Larrea. Initially, De Larrea was seen as a prospect who could be stashed overseas, thereby not impacting the team's immediate salary cap figures. However, this arrangement proved to be temporary.
Following the conclusion of the first round, the Knicks traded De Larrea to the Dallas Mavericks for the No. 30 pick, Koa Peat, and two second-round selections. Subsequently, New York sent Peat to the Phoenix Suns for three additional second-round picks and cash.
By the end of the first night of the draft, the Knicks had accumulated five second-round selections and cash, having successfully navigated potential first-round salary obligations without parting with significant draft capital. The team also acquired the draft rights to Melvin Ajinca from Dallas. Ajinca was originally selected by the Knicks in the 2024 draft before being traded as part of the deal that brought Ariel Hukporti to New York.