What happened: New York opens its 2026-27 title defense managing second-apron limits tied to Karl-Anthony Towns and a $276 million extension that now looks unlikely. Toronto faces a roster reset around the Kawhi move with its East positioning still to be defined.

Why it matters: New York's repeat bid depends on keeping its championship core intact without triggering harsher apron restrictions. A reshaped Toronto alters the East seeding picture and the first-round matchup math for the teams above it.

What to watch: Watch for any movement in extension talks before camp and clarity on Toronto's rotation and depth chart.