Knicks' Two-Way Situation Could Change Even After Filling Last Spot

The Knicks might not be done here yet.

There's reason to believe the Knicks' two-way situation isn't set in stone. | IMAGN IMAGES via Reuters Connect

The Knicks were the last team in the league with all three two-way spots open. Among a flurry of moves in recent days, Leon Rose finally filled those vacancies with Kevin McCullar Jr., Tyler Nickel and Jaden Akins. This doesn't mean that the trio is locked in, however.

Two-way contracts don’t count against the salary cap and have zero implications on the second apron. Teams can waive a two-way player and sign a replacement at any point up until March 4. While the Knicks might not change things up here anytime soon, the possibility is there.

In fact, there's two former Pelicans castoffs to keep eyes on for a possible swap.

Key names we are keeping an eye on as potential roster cuts in training camp:

LAL: Dalton Knecht
LAC: Cam Christie
MEM: Kris Murray, Jordan Hawkins
DAL: Dwight Powell
CHA: Pat Connaughton
MIL: Caris LeVert

These six teams must make roster decisions before start of season. https://t.co/MxZgo5ZjYf

— Brett Siegel (@BrettSiegelNBA) October 1, 2026

Earlier in the month, the Pelicans traded youngsters Jordan Hawkins and Micah Peavy to Memphis to clear roster space. Now it’s the Grizzlies looking at a roster crunch of their own, and both players (who also are two-way eligible) are potential cut candidates.

Jordan Hawkins, Micah Peavy could tempt Knicks for two-way deal if they become available

Of the two, Hawkins is the more seasoned and comes with a stronger pedigree. The 24-year old helped lead UConn to the 2023 NCAA championship as a sophomore and built a reputation as a high-level shooter.

While he hasn’t developed into the elite sharpshooter the Pelicans hoped when selecting him No. 14 overall in the 2023 NBA Draft, Hawkins has showed flashes of being a rotational player during an up-and-down three NBA years.

The 6-foot-5 swingman averaged 7.8 points per game and made 36.6% of his three-point attempts as a rookie. In his sophomore campaign, Hawkins averaged a career-best 10.8 points but saw his three-point percentage drop to 33.1%. Then this past year, he averaged a career-low 13.6 minutes in 51 games while shooting 34.8% on threes.

There are games where he looks like a real contributor, though they are few and far between. That could have to do with the fact that his minutes are far from consistent either. Even though his shots haven't been falling lately, Hawkins still has a pretty stroke and perhaps a change of scenery and learning from Mike Brown could do him well.

To get off of his expiring $7.02 million expiring contract, the Pelicans had to attach assets to dump that deal on the Grizzles. One of those assets was Peavy, who was drafted last summer 40th overall. The 25-year old appeared in 61 games (four starts) and averaged 4.3 points in 15.0 minutes.

Although his counting stats don’t look great, there’s a reason why he logged 61 games played last season, and that reason was his defense. The Pelicans' defensive rating was +1.8 better when Peavy played his 743 minutes, per NBA.com.

Jan 21, 2026; New Orleans, Louisiana, USA; New Orleans Pelicans guard/forward Micah Peavy (14) dribbles against the Detroit Pistons during the second half at Smoothie King Center. Mandatory Credit: Stephen Lew-Imagn Images | IMAGN IMAGES via Reuters Connect

Peavy showed elite anticipation and the ability to get stops from the point of attack. One of the major knocks on him, however, is his outside shooting ability. He only shot 25.9% from long distance and that's not going to cut it for someone hoping to stick as a three-and-D specialist.

But over the final games, when his minutes increased, Peavy went 7-of-17 from three. As a senior at Georgetown, he shot 40.0% from deep on 4.1 attempts per night. At Summer League, the 6-foot-7 defensive dynamo averaged 12.5 points and shot 50% from long range on three attempts per game.

With an improving outside shot and strong defensive chops, Peavy is the kind of youngster worth taking a flier on. This might all be a moot point if neither player is cut loose. But for now, it's something to monitor and serves as a reminder of the other options New York could explore for a two-way spot this season.

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