They reside on opposite coasts, and when it comes to their basketball resumes, the Los Angeles Lakers with 17 NBA Championships own way more bragging rights than the New York Knicks, who have won two titles, the last coming 51 years ago. Yet the Knicks are Broadway box office this offseason while the storied Lakers have gone to Sideshow from Showtime.

No trophies are awarded for the offseason, if so, the Knicks can schedule a parade along the Canyon of Heroes. Whether they’ve closed the gap to compete with the world-champion Boston Celtics remains to be seen, but the Knicks enter the 2024-2025 season as the most intriguing must-watch team in the NBA.

The acquisition of Mikal Bridges in a blockbuster trade with the Brooklyn Nets, the re-signing of OG Anunoby and improved health from key players have skyrocketed championship aspirations for the upcoming season.

Meanwhile, the Lakers selection of Bronny James in the second round of the NBA Draft gives the NBA its first active father and son in league history. It’s a nice storyline, but it suggests the Lakers have prioritized keeping LeBron James happy over improving their chances of winning another championship.

Give the Knicks front office some applause. The acquisition of Mr. Bridges from the Nets for five first-round picks, and the re-signing of Mr. Anunoby to a five-year deal worth an estimated $210 million is just short of magical. The Knicks now have two of the best wing defenders in the league, who also are capable scorers. While Mr. Anunoby has shown durability problems, Mr. Bridges logged 15,479 minutes during the regular season, the most for any player over the past six years.

Mr. Bridges joins Villanova alums Jalen Brunson, Josh Hart, and Donte DiVincenzo on the Knicks roster. The return of Mr. Anunoby and a three-time All-Star, Julius Randle, who missed half the season with a shoulder injury, makes the Knicks better at both ends of the floor. The objective is clear, build a team that can compete with the world champion Boston Celtics.

It’s not clear what the objective is with the Lakers other than to appease Mr. James, who could opt out of his contract and declare himself a free agent. First, the organization settled for JJ Redick, Mr. James’ podcast partner, to become the new head coach. After being turned down by UConn coach Dan Hurley, the Lakers passed over several qualified assistant coaches and former head coaches to hire Mr. Redick, who has never been a head coach on any level.

The Lakers draft also caused some head-scratching. After selecting guard Dalton Knecht of Tennessee with the 17th overall pick in the first round, the Lakers selected Mr. James’ oldest son, Bronny, with the 55th overall selection in the second round of the NBA Draft on Thursday to become the league’s first active father and son duo. Bronny James, 19, was drafted despite suffering a cardiac arrest in 2023 and averaging 4.8 points a game in his only season at USC.

Lakers general manager Rob Pelinka pointed to young Bronny James’ “high character” as the primary reason he was selected. Bronny James is expected to begin his pro career in the G League and will join the Lakers at some point during the upcoming season to celebrate the league’s first father-son union.

“The biggest moments in sports happen with the Lakers and we’re excited to see this story unfold,” Mr. Pelinka told reporters at Los Angeles, adding, “history could be made next season.”

The Knicks are interested in a different kind of history, like winning their first championship since 1973. Trading away five first-round draft picks amounts to a king’s ransom but drastic times call for drastic measures.

A banged-up Knicks team fell one game short of reaching the Eastern Conference Finals last year, producing a thrilling post-season fueled by Mr. Brunson. If healthy, the Knicks weren’t likely to beat the Celtics, who needed just five games to eliminate the Dallas Mavericks in the NBA Finals and win the franchise’s 18th championship. The Celtics are too talented, too deep, and too confident.

A healthy return of players such as Mr. Randle and center Mitchell Robinson, who went down in the playoffs with an ankle injury, along with Mr. Anunoby, and the Villanova Four closes the gap and gives the Knicks their best roster since it included Patrick Ewing.

This doesn’t include an 18-year-old forward from France selected in the first round with the 25th pick overall in the NBA Draft, Pacome Dadiet. Forward Tyler Kolek from Marquette, guard Kevin McCullar Jr. of Kansas, and center Ariel Hukporti from Melbourne United were selected with the 34th, 56th, and 58th picks overall in the second round.