Sources indicate that the Knicks are set to trade Julius Randle and Donte DiVincenzo to the Timberwolves in exchange for Karl-Anthony Towns.

The New York Knicks and Minnesota Timberwolves are finalizing a major trade involving All-Stars Julius Randle and Karl-Anthony Towns, sources confirmed to ESPN on Friday night.

In this deal, Randle and Donte DiVincenzo will join the Timberwolves, while Towns will head to New York. The Knicks are looking to strengthen their roster with Towns, addressing their biggest weakness at center, while Minnesota aims to enhance its shooting and versatility following last season's run to the Western Conference finals.

Additionally, Minnesota will receive a top-13 protected first-round pick from the Knicks in 2025, sourced from the Detroit Pistons.

The Charlotte Hornets will serve as a third team in this trade, and they are expected to receive draft compensation to facilitate the financial aspects of the deal.

Negotiations between the Knicks and Timberwolves had been ongoing throughout the summer but gained momentum when Charlotte was brought in as a third party. The trade is not anticipated to be finalized for a few days.

Towns, who just returned to Minnesota for the start of training camp, was focused on building upon the Timberwolves’ playoff success when this news broke, which was described by a source close to him as "completely unexpected."

Growing up in central New Jersey, about an hour from New York City, Towns is set to fill a crucial role as the Knicks' starting center, especially after Mitchell Robinson was ruled out for at least the first two months of the season due to offseason ankle surgery.

At 28, Towns is a four-time All-Star and two-time All-NBA selection, boasting career averages of 22.9 points and 10.8 rebounds while shooting 39.8% from beyond the arc. Last season, he averaged 21.8 points and 8.3 rebounds, with shooting percentages of 50% from the field and 41.6% from three-point range. As the No. 1 pick in the 2015 NBA draft, he played a pivotal role in helping Minnesota reach the playoffs for only the second time in the franchise's 35-year history, advancing to the West finals for the first time in 20 years.

Towns, now in the first year of a four-year, $220 million supermax extension, will reunite with Knicks coach Tom Thibodeau, under whom he played in Minnesota from 2016 to 2019.

Randle, who will turn 30 in December, had an impressive season last year, averaging 24.2 points, 9.2 rebounds, and 5.0 assists before suffering a dislocated right shoulder. After undergoing season-ending surgery, he has spent the summer rehabbing and is expected to be ready for training camp.

Since joining the Knicks in 2019, Randle has enjoyed the best years of his career, making three All-Star teams and two All-NBA teams while helping the Knicks reach the playoffs in three of the last four seasons—an achievement the franchise has only matched once this century.

Over the past five seasons, Randle and Towns have posted remarkably similar numbers:

Randle's contract includes $28.9 million for this season and a $30.9 million player option for 2025-26. The Knicks had not made progress on a contract extension with Randle over the summer, indicating their openness to trading him.

Timberwolves coach Chris Finch has a history with Randle, having coached him during his time with the Pelicans, and reportedly has a favorable opinion of the star forward.

DiVincenzo, who signed a four-year deal with the Knicks last summer, had a breakout season with a career-high 283 three-pointers. Minnesota had expressed interest in him as a free agent after his stint with the Golden State Warriors, making his shooting a valuable asset for the Timberwolves, especially with Towns departing.

This trade will prevent the so-called "Villanova Knicks"—DiVincenzo, Jalen Brunson, Josh Hart, and Mikal Bridges—from ever playing together, following another major trade earlier this summer that brought Bridges from the Brooklyn Nets.

Due to financial constraints with both teams over the salary cap, Charlotte’s involvement was necessary to facilitate the deal, allowing them to utilize salary cap exceptions for compensation.

As a result of this trade, the Knicks' championship odds improved from +800 to +700, ranking behind only the Boston Celtics and Oklahoma City Thunder.

The Knicks and Timberwolves are scheduled to face off in a preseason game in New York on October 13, followed by their first regular-season matchup on December 19 in Minneapolis. The Athletic first reported the trade discussions.