The Exchange
Boston sold Al Butler's player rights to New York for cash on December 11, 1961. Basketball-Reference's Celtics, Knicks and league transaction ledgers all preserve the same date and transaction structure, while Butler's player page confirms the move. Boston had selected Butler in the second round of the 1961 draft and used him only briefly before selling his rights. The public sources located for this review do not identify the amount of cash New York paid, so the Celtics' financial return cannot be measured precisely.
New York Return
Butler became a major Knicks rotation player almost immediately. He appeared in 54 regular-season games for New York in 1961-62 and averaged 14.7 points, 6.0 rebounds and 3.7 assists in 36.5 minutes per game. Those are substantial numbers for a player acquired during the season for cash. He remained with the Knicks for the next two campaigns, playing 74 games in 1962-63 and 76 in 1963-64. Across three New York seasons, Butler appeared in 204 regular-season games and averaged 10.7 points per game.
Boston Return
The Celtics received cash and no basketball asset. Boston had only used Butler in five games during 1961-62, where he averaged 6.2 points in 9.4 minutes per game, so selling his rights was understandable from the perspective of a roster that was already deep and championship-caliber. The unknown cash amount is a meaningful caveat because it may have reflected a reasonable price for a player outside Boston's regular rotation.
Hindsight Comparison
This is one of the clearer early-1960s cash-sale outcomes because the acquired player generated enough sustained production to outweigh the uncertainty around an undisclosed payment. New York received more than 200 games across three seasons, including a 1961-62 stretch in which Butler played starter-level minutes and scored nearly 15 points per game. Boston's return may have been financially sensible at the time, but the surviving record gives no evidence that the cash later became a comparable basketball asset.
Final Verdict
Knicks Win, A-/C+. New York receives an A- for turning cash into 204 regular-season games and three seasons of meaningful backcourt production. Boston receives a C+ because the Celtics monetized a player they were barely using, but the cash amount is unknown and no future basketball return is documented. Confidence is high on the exact date, player identity and realized production; confidence is lower only on the financial term. The verdict reflects only verified transaction terms and realized team value.