This trade seems almost too perfect(even though I'm not a fan of Val).
Before I get into that, how the fuck is Covington not signed to a team yet, dude isn't terribly old, has been consistently a great defender, and has a decent tnough 3 pt shot to space the floor(hovers between 33-38% by year). Dude was averaging almost 2 stocks a game last year in 15 mpg like thats absurdly high. If Knicks manage to snag him in FA at some point I think it would be a tremondous pickup(he could even play small ball 5).
Some backstory. The Wizards and Knicks had both expressed mutual interests in trade talks, mainly surround Mitch, prior to iHart leaving. The Knicks also own a protected first from the Wizards which I am sure the Wizards would like back. The Wizards just drafted a center with their number one pick, making Val seem like a strange choice for a guy they want to keep around long term as well.
Knicks: "They need a backup center!!!!" "How will they win without a backup center!!". God shit is so annoying, but it has some validity. Mitch is tremondous, but him being very injury prone and a cone on offense can cause some issues with this team. Val honestly brings most things to the table that the Knicks want outside of traditional rim protection. Hes a great rebounder(unless I bet on him) on both ends of the floor, an ok passer for a big man, can get his own bucket in the post(though I don't wanna see that), and has expanded his range in recent years(would love to continue seeing that). Val will hopefully be able to have his lack of rim protection aided by fantastic wing defenders(and maybe some coach whispering). Knicks will basically be giving up contract filler from their perspective plus that first which the Wizards find more valuable than the Knicks do.
Wizards: "Ahh won't you look at that. Its Janauary and we are 13-30, that means the tank isn't going strong enough. Lets ditch Val and play Sarr the most minutes possible" is probably what the Wizards will be thinking. Getting back their own first, albeit protected, gives them security to be able to tank or compete as they please. Precious also isn't a nothing asset in return, hes shown flashes and is a very athletic 4/5 combo who probably won't turn into anything but who knows.
Fan A: Fan who thinks that Val sucks and Knicks should be getting something back in return, throw in a second or 2
Fan B: Fan who thinks Val is good and Knicks are basically giving up nothing... throw in a second or 2 or three the other way
Fan C: Fan who is mad that the Knicks gave u Payne instead of Sims. Fucking switch them idc its just salary filler in my eyes.
Lastly, how the fuck is Covington not signed again, I truly believe this trade plus signing him would bring the Knicks from the one of the weakest front court depths to strongest.