Knecht gets a two-way deal and a second chance.

Dalton Knecht, 25, signed a two-way contract with the Knicks this week after the Lakers waived him ahead of their season opener. He was a first-round pick not long ago, and now he's catching on with the defending champions on one of the league's more modest roster arrangements.

The move came alongside a decision involving Kevin McCullar Jr., per the news out of the organization Thursday. Two-way spots are limited-use by design, so Knecht won't be a rotation fixture right away — but the Knicks clearly see something worth developing, and a former lottery-range pick with shooting ability is a reasonable bet at that price.

This is the second reclamation project the Knicks have taken on in the past week, after keeping James Wiseman over Bruce Brown for the final standard roster spot. Champions can afford to be patient with upside. Whether Knecht earns his way into meaningful minutes is a question for later in the season.