Knicks NBA Championship Odds Skyrocket Following Mikal Bridges Blockbuster Trade

The New York Knicks have shot up the odds board to win the NBA Finals after trading for Mikal Bridges.

New York Knicks guard Jalen Brunson (11) brings the ball up court against Mikal Bridges. / Brad Penner-USA TODAY Sports

The first blockbuster trade of the NBA offseason is upon us.

The New York Knicks reportedly have acquired forward Mikal Bridges from the Brooklyn Nets in exchange for Bojan Bogdanovic and a litany of draft picks, including four unprotected first-round picks.

BREAKING: The Brooklyn Nets have agreed in principle on a trade to send F Mikal Bridges to the New York Knicks for Bojan Bogdanovic, four unprotected first-round picks, a protected first-round pick via Bucks, an unprotected pick swap and a second-rounder, sources tell ESPN. pic.twitter.com/TEGsIpoa3b

— Adrian Wojnarowski (@wojespn) June 26, 2024

The trade reunites Bridges with his college teammates Jalen Brunson, Donte DiVincenzo and Josh Hart. The Knicks, who earned the No. 2 seed in the Eastern Conference last season, are looking to contend for a title and adding Bridges certainly helps them match up with Boston and some of the other elite teams in the NBA

Bridges' desire to play for the Knicks played a big factor in the deal, but it certainly didn't come without a price. New York is sinking significant draft capital into this deal, a sign that it feels it is time to go all in.

The Mikal Bridges deal came together quickly after Bridges informed the Nets that he wanted to be a Knick. Bridges was prepared to sign with NYK and his side was prepared to use that leverage to keep other teams from trading for him, per SNY sources.

— Ian Begley (@IanBegley) June 26, 2024

Oddsmakers agree, moving the Knicks' odds to win the NBA Finals drastically following the report of the Bridges trade.

New York was +1700 at BetMGM to win the NBA Finals prior to the deal, but it is now +900.

The Knicks BEFORE trading for Mikal Bridges:

+1700 to win the 2025 NBA title

The Knicks AFTER trading for Mikal Bridges:

+900 to win the 2025 NBA title

🤯 pic.twitter.com/adh74GK8bH

— BetMGM 🦁 (@BetMGM) June 26, 2024

That's not the only book where the Knicks saw a significant move. DraftKings has now moved New York to the No. 6 choice to win the title at +1000 behind only the Boston Celtics (+300), Denver Nuggets (+800), Oklahoma City Thunder +850), Minnesota Timberwolves (+950) and tied with the Milwaukee Bucks (+1000).

Odds via DraftKings Sportsbook.

The Bridges move doesn't signal the end of the Knicks' offseason, though. They still have key free agents in OG Anunoby and Isaiah Hartenstein that may not be as easy to re-sign following the trade.

Implications of Mikal Bridges Trade on Knicks' Offseason

According to ESPN's Adrian Wojnarowski, the Knicks are still determined to bring back Anunoby, who they traded for during the 2023-24 season, but they may no longer be able to keep Hartenstein on the roster.

New York has the early Bird rights to Hartenstein, but it can only offer him a maximum of four years and $72.5 million this offseason. It's possible he could receive a bigger offer from another team to pry him from New York.

The Knicks are still determined to keep OG Anunoby in free agency, sources tell ESPN, but the ability to resign center Isaiah Hartenstein becomes more difficult now. The Knicks are loading up on wings to match up with the NBA champion Boston Celtics.

— Adrian Wojnarowski (@wojespn) June 26, 2024

There are also cap implications for the Knicks when it comes to the Bridges trade that could make it hard for them to bring back Hartenstein and Anunoby.

According to ESPN's Bobby Marks, New York is now hard capped at the first apron unless it can send out more salary in the deal. There are avenues for the Knicks to take to do so, but it's unclear what/if they'll end up adding to the deal.

If the Knicks do end up being hard capped at the first apron, Marks notes that they'll have to sign six players and fit $48.7M below the first apron. This includes if they decide to bring back
Anunoby and/or Hartenstein.

Post New York/Brooklyn fallout:

- Because of the 7-year rule (can only trade picks between 7 drafts), this trade will happen post Draft. We are operating in the 2024-2030 window right now. New York is sending their 2031 first to Brooklyn.

- Because New York is taking back more… https://t.co/kvWm3GOQyY pic.twitter.com/BF5iLN8A2X

— Bobby Marks (@BobbyMarks42) June 26, 2024

The Knicks could also make another trade to avoid being hard capped, which could go a long way to bring back Anunoby and possibly Hartenstein.

Here's the thing for the Knicks and hard caps and all that:

They have one of the best salary cap management teams in the NBA. They'll figure out a way to make it all work. Might cost them another pick or two in subsequent trades, but they will make it work.

— Keith Smith (@KeithSmithNBA) June 26, 2024

For bettors, there's no doubt that this Knicks team is better -- especially if Anunoby returns -- than it was prior to this trade.

However, I wouldn't recommend going all in on them in the futures market until their other free agents have landed back in New York.

If Anunoby walks, the Knicks are not much different than last season's team but now without several future draft picks. If he returns, which these odds are suggesting he will, they should be one of the best teams in the Eastern Conference -- and possibly the whole NBA.

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Odds refresh periodically and are subject to change.

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