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As the Timberwolves' ownership dispute heads to an arbitration hearing in November, both Minnesota and the New York Knicks have made strategic roster moves ahead of the upcoming NBA season.

The Timberwolves face a hefty estimated luxury tax bill of $77.5 million, the second-highest in the NBA, although there is no indication that recent trades were financially motivated. Notably, Minnesota has not paid the luxury tax since the modern version was introduced in 2011, according to CBS Sports' Sam Quinn.

The trade addresses team-specific needs that both franchises had going into the season. The Knicks were anticipating the absence of Mitchell Robinson for the season's first two months due to offseason ankle surgery, as reported by SNY's Ian Begley. Adding Karl-Anthony Towns should benefit the Knicks significantly in terms of scoring and floor spacing, particularly under head coach Tom Thibodeau. Towns, a proven scorer, has averaged at least 20 points per game over the last eight seasons and boasts a career three-point shooting accuracy of 39.8 percent.

Minnesota, on the other hand, has a ready replacement for Towns at center with Naz Reid, who is coming off a breakout season that earned him Sixth Man of the Year honors. The addition of Donte DiVincenzo provides the Timberwolves with a reliable three-point shooter to complement Anthony Edwards in the backcourt.

Julius Randle, who sat out the final 36 games of last season due to a shoulder injury requiring surgery, remains the X-factor in this deal. Despite his postseason struggles, Randle has earned three All-Star selections in the past four years. If the Timberwolves can maximize Randle's performance both during the regular season and playoffs, they could be well-positioned to contend for a spot in the Western Conference Finals for a second consecutive year.

With the arbitration hearing set to begin in November and likely to conclude within a little over a month, the outcome could have significant implications for the Timberwolves' financial situation moving forward.