New York Sold Mike Farmer’s Rights to Cincinnati
New York sold Mike Farmer's player rights to Cincinnati for cash on November 14, 1960. The Knicks, Royals and league Basketball-Reference transaction ledgers all agree on the date and identify the move as a sale rather than a player swap. Farmer had been the third pick in the 1958 draft and had spent parts of three seasons with New York before the move. The public transaction record does not preserve the amount of cash Cincinnati paid, so New York's financial return cannot be graded with precision. What can be measured is what Farmer produced immediately after the Royals acquired him and what value Cincinnati still retained when it moved his rights again the following summer.
Farmer Immediately Joined the Royals Rotation
Farmer became a real rotation player for the Royals immediately. He appeared in 57 games in 1960-61 and averaged 22.7 minutes, 7.5 points and 6.6 rebounds per game. That was far more than a token end-of-roster role and gave Cincinnati useful frontcourt depth during Oscar Robertson's rookie season. The Royals then sold Farmer's rights to St. Louis in August 1961. Farmer spent the next season in the ABL before returning to the NBA with the Hawks, where he played 80 games in 1962-63, 76 in 1963-64, 60 in 1964-65 and nine in 1965-66. Cincinnati therefore received one productive season and still retained a transferable asset afterward.
Cincinnati Preserved a Transferable Asset
The Knicks received cash and no later player, pick or conditional asset appears on their side of the verified transaction. Because the amount is undisclosed, the sale cannot be treated as if New York received nothing. Farmer also was not a star in New York and had averaged modest scoring numbers during his first three seasons, so moving him for financial consideration was understandable on the transaction date. Retrospectively, however, the Knicks surrendered a 24-year-old former lottery-level pick who immediately became a regular contributor for another team and later extended his NBA career for several additional seasons. The one-time payment produced no identifiable basketball asset for New York.
One Season Plus a Later Sale Beat Undisclosed Cash
Cincinnati received the stronger realized return. The Royals bought a player who gave them 57 games and nearly 23 minutes per night, then preserved enough value to sell his rights again the next summer. New York's return was limited to an undisclosed cash payment. That does not make the move catastrophic, because Farmer's ceiling was that of a useful rotation forward rather than a franchise player, but the Royals extracted both present and future value from the same asset. In a minor rights sale, that is enough to create a clear separation between the two sides.
Final Verdict
Royals Win — New York C+, Cincinnati A-. New York sold Mike Farmer's player rights to the Cincinnati Royals on November 14, 1960 for cash. Basketball-Reference's Knicks, Royals and league transaction ledgers all agree on the date and sale structure. Farmer immediately played 57 games for Cincinnati in 1960-61, averaging 7.5 points and 6.6 rebounds in 22.7 minutes per game. Cincinnati then sold his rights to St. Louis in August 1961, and Farmer later produced four more NBA seasons for the Hawks. The public ledgers do not preserve New York's cash amount. In realized basketball value, Cincinnati clearly came out ahead because it bought a useful rotation forward, received a full season of production and still retained a saleable rights asset afterward.