From ESPN.com:
The Knicks and Timberwolves are finalizing a trade that will see Karl-Anthony Towns land in New York and Julius Randle and Donte DiVincenzo head to Minnesota, league sources confirmed to ESPN’s Bobby Marks.
Talks intensified between the teams over the past 24 hours and the deal was being finalized Friday night, sources said.
Minnesota also will receive a 2025 top-13-protected first-round pick, which was acquired from New York via the Pistons in a previous trade.
A third team, the Charlotte Hornets, also is part of the trade to absorb additional salary, sources said.