The New York Knicks will open their training camp next week, and will officially begin their NBA championship defense when they do. But that defense will already be clouded by questions and concerns off the court and in the payroll ledgers–most notably with the contract extension due to star center Karl-Anthony Towns.
It was revealed this week by ESPN and other outlets that the talks between the Knicks and Towns, who is eligible for a four-year, $276 million extension have “stagnated,” as the two sides have been able to talk about a new deal all summer but have made little progress. On Friday, Brian Windhorst, speaking on “The Hoops Collective” podcast noted just how stagnant it’s gotten.
Windhorst said: “From what I understand they are tens of millions apart. They are not close.”
Knicks Not Panicking on Karl-Anthony Towns Extension … Yet
There’s no sense of panic from the Knicks just yet, though. There is still confidence that a deal can be reached, and the team has made clear they are not out to let Towns walk away in free agency, or to trade him. Towns is signed for this upcoming season and has a $61 million player option next season.
The Knicks and Towns could sign an extension any time from now until free agency starts on June 30, 2027.
Said Windhorst’s podcast partner Tim MacMahon: “It’s looking unlikely that they come to an agreement, he’s an extremely important player. He’s under contract for this season and has a $61m player option. I think it’s something, but not everything.
“I don’t think it’s a toxic situation, and I credit Kat for that. Would he love to get a contract extension? Absolutely. Is he going to take way way below the market value? Entering a summer where a lot of teams are going to have a lot of cap space? No, he’s not going to take a low-ball number.”
Ultimately, though, if Towns does not take enough of a discount, the Knicks would need to trade away another player–OG Anunoby, Mikal Bridges, Josh Hart–to meet owner James Dolan’s goal of remaining below the second apron of the luxury tax.
Knicks ‘Not Close’ on Karl-Anthony Towns Contract