What happened: Cam Thomas rejected a two-year, $30 million extension from the Brooklyn Nets a year ago. He was waived by the Nets in February and by the Milwaukee Bucks tonight. Thomas has now signed a one-year, $6 million contract, reportedly with the New York Knicks.

Why it matters: Underscores risks of turning down big offers for young players. Weakens Bucks' bench depth amid tight East race. Knicks gain scoring punch off bench, potentially shifting playoff.

What to watch: Watch Thomas's role in Knicks' rotation and early-season scoring output.