The Miami Heat and New York Knicks entered the 2026-27 season with high expectations. Miami won the protracted Giannis Antetokounmpo sweepstakes, trading for the former NBA MVP from the Milwaukee Bucks in July.

The Knicks won their first championship in 53 years, but they haven't defended the title well. Outside of swapping in Andre Drummond for Mitchell Robinson, New York has the same core roster.

Maybe the hangover wears off, but neither team has won in a combined seven games. If the slow starts continue, they could help each other with an early two-team deal.

Full Trade Scenario

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The Miami Heat receive: Karl-Anthony Towns, $6.1 million trade exception (Tim Hardaway Jr.)

The New York Knicks receive: Bam Adebayo, Tim Hardaway Jr.

Why the Miami Heat Do It

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In April, Heat president Pat Riley suggested the team's asking price in trade for Adebayo was eight picks and San Antonio Spurs All-Star Victor Wembanyama.

That was before the franchise went all-in on Antetokounmpo, losing significant shooting and playmaking in the process. Adebayo and Antetokounmpo could be a devastating defensive pairing, but if Miami's offense can't score, the 2026-27 campaign may be long and painful.

Towns, now an NBA champion, is nowhere near Adebayo's defensive capability. While the Heat's center stunned the world with an 83-point game last year, he's nowhere near Towns as a scorer or shooter. Adebayo averages 16.2 points per game and shoots 31.4 percent from three. Towns' 22.7 points and 39.8 percent shooting immediately change Miami's offensive spacing.

The team is close to its $209 million first-apron hard cap, so it will need to include Hardaway, who hasn't shot well, after his December 15 trade restriction lifts. An immediate fix to staunch the bleeding would require one of Andrew Wiggins, Bobby Portis, or Davion Mitchell instead, along with a third team to ease the Knicks' apron issues.

Miami still needs playmaking support, but the cultural shift from Adebayo to Antetokounmpo started the moment the Heat agreed to the deal with the Bucks. Towns has a $61 million player option for 2027-28, but he'll opt out if offered an extension he deems viable. At this point, he and the Knicks have reached an impasse, reportedly stopping at a $200 million offer over four additional seasons, per Stefan Bondy of the New York Post.

After a trade, the Heat can pay a similar annual rate of $150 million over three years—starting at about $47.6 million, almost $6 million below Adebayo's salary next season.

Why the New York Knicks Do It

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The fans won't like the Knicks' motivation for the deal: money.

The championship vibes were disrupted this offseason when Towns and the team couldn't agree to a contract extension. Towns, almost 31, was willing to opt out of his $61 million player option to lock in a new deal starting near $50 million for 2027-28.

The Knicks tabled discussions, leaving Towns frustrated. Similarly, starter Josh Hart will need to wait for his next deal. Don't point the finger at the pair for torching chemistry; the roster expects to be rewarded for delivering a title. When the organization doesn't come through, it doesn't go unnoticed.

Then there was the championship ring "mistake": assistant coaches and employees were left out of the celebration and instead received a phishing email in a network security test. The issues aren't stemming from the players.

Putting aside the drama, Adebayo, 29, has a fixed cost of $53.4 million for 2027-28, followed by a player option at $57.4 million. The team has time before it has to recommit to Adebayo, who is significantly better than Towns defensively.

While Adebayo isn't a reliable three-point shooter, don't forget he scored 83 points last season. He'd eventually become a fan favorite once the city gets over losing Towns, a core piece of the title team.

Hardaway spent the early part of his career in New York and will undoubtedly regain his shooting stroke alongside a playmaker like Jalen Brunson. The Knicks are very close to their $221.7 million second-apron hard cap, but Adebayo and Hardaway combined earn less this season than Towns.

It would be bold to move on from Towns so quickly, but it's also bold not to extend him after his championship-caliber performance.