The defending champion New York Knicks entered the 2026 NBA Draft with the 24th overall pick and exited the first round entirely, executing a series of trades that transformed three first-round selections into five second-round picks and additional cash considerations.
According to NBA insider Shams Charania, the Knicks first dealt the No. 24 pick to the Los Angeles Lakers in exchange for No. 25 and cash.
New York then moved No. 25 to the Dallas Mavericks for No. 30, forward Koa Peat, and two future second-round selections. The Knicks completed the maneuver by sending Peat and the No. 30 pick to the Phoenix Suns for three additional second-round picks and cash.
The chain of transactions ultimately left New York with five second-round selections and cash compensation while dropping out of the first round. The Knicks now own picks Nos. 31, 47 and 55 in the second round, with Charania reporting that the franchise has already received offers involving future draft assets for No. 31.
Carr emerged as one of the biggest risers in college basketball during the 2025-26 season at Baylor. After limited roles during two seasons at Tennessee, the 6-foot-6 guard started all 34 games for the Bears and averaged 18.9 points, 5.8 rebounds and 2.6 assists while shooting 49.4% from the field and 37.4% from three-point range. His combination of size, athleticism and shooting helped him climb into the middle of the first round.
The Mavericks acquired de Larrea before later moving him in the broader draft reshuffling. The 19-year-old spent the past four seasons with Valencia and showed steady development in both Liga ACB and European competition. During the 2025-26 ACB campaign, de Larrea averaged 9.7 points, 3.7 assists and 3.0 rebounds while shooting 44.3% overall and 40.7% from three-point range.
Peat, meanwhile, lasted until No. 30 despite a productive freshman season at Arizona. The versatile forward started all 36 games for the Wildcats and averaged 14.1 points, 5.6 rebounds and 2.6 assists while shooting 52.8% from the field. Although he attempted only 0.6 three-pointers per game, Peat’s physicality, rebounding and ability to attack the rim made him an intriguing developmental prospect for Phoenix.
