Peterson, the Hornets’ president of basketball operations, agreed to acquire DaQuan Jeffries, a draft pick and cash considerations from the New York Knicks in a three-team trade sending Karl-Anthony Towns from Minnesota to New York in exchange for Julius Randle and Donte DiVincenzo, according to multiple reports Friday night.

The Minnesota Timberwolves are sending Karl-Anthony Towns to the New York Knicks in exchange for Julius Randle, Donte DiVincenzo and a first-round draft pick.

According to Shams Charania and Jon Krawczynski with The Athletic, the Timberwolves are trading Karl-Anthony Towns to the New York Knicks for Julius Randle, Donte DiVincenzo and a first round pick. Developing story at @TheAthletic with @JonKrawczynski on Timberwolves and Knicks blockbuster deal sending Karl-Anthony Towns to New York for Julius Randle,