Karl-Anthony Towns has made it clear he’s willing to take less money to remain with the New York Knicks. Now, there’s a clearer picture of just how much he’s unwilling to sacrifice.
ESPN’s Shams Charania revealed Wednesday that Towns is open to a sizable discount on his maximum contract extension, but the $76 million gap between New York’s reported offer and his maximum is a bridge too far.
Shams Charania Reveals Karl-Anthony Towns’ Financial Limit
During Wednesday’s edition of The Pat McAfee Show, Charania detailed why extension negotiations between Towns and the Knicks have stalled.
New York reportedly offered the six-time All-Star a four-year, $200 million extension, well below the four-year, $276 million maximum he is eligible to receive.
“He will sign for less than his max contract. He’ll take a sizable discount,” Charania said. “$70 plus million less, that’s something that he is not willing to do right now.”
The comments provide the clearest indication yet of where Towns stands financially.
His willingness to accept a team-friendly deal isn’t new. During training camp, Towns publicly expressed his desire to balance the franchise’s championship ambitions with his own value.
“Simply put, I want to do something that can keep the team together and work with the Knicks and also values me,” Towns said. “None of those things have come close to happening.”
The Knicks subsequently announced they were pausing extension negotiations until later in the season.
Charania said both sides have since shifted their focus toward defending New York’s NBA championship.
Karl-Anthony Towns Previously Voiced Frustration With Knicks
Towns made his position clear during training camp.
Speaking before the Knicks’ preseason opener against Philadelphia on Oct. 5, he expressed frustration with the lack of progress.
“Simply put, I want to do something that can keep the team together and work with the Knicks and also values me,” Towns said. “None of those things have come close to happening.”
His comments underscored his desire to balance financial security with New York’s ability to retain its championship core.
Four days later, the Knicks announced they were pausing contract extension negotiations until later in the season.
The decision also affected Josh Hart, Miles McBride and Tyler Kolek.
New York wants to avoid distractions while defending its championship.
Towns is earning approximately $57 million this season and holds a player option worth roughly $61 million for 2027-28.
The reported $200 million extension would average $50 million annually, below his current salary.
KAT Makes Strong Case With 20-20 Performance
While negotiations remain unresolved, Towns is making his case on the court.
Through five games, the Knicks center is averaging 21.8 points, 13.8 rebounds and 3.2 assists while shooting 58.3% from the field and 40.9% from the 3-point range.
He has recorded a double-double in every game.
His most impressive performance came Tuesday against Detroit, when he delivered 27 points and 20 rebounds in New York’s 111-97 victory.
Towns grabbed eight offensive rebounds and shot 12-for-21 from the field as the Knicks overcame an early 13-point deficit.
He followed that performance with 19 points, 13 rebounds and five assists Wednesday as New York rallied from 19 points down to beat Chicago 133-127.
Jalen Brunson led the comeback with 38 points.
The victories helped the Knicks recover from a 0-3 start ahead of Friday’s NBA Cup opener against Philadelphia.
For Towns, the production reinforces his argument that a team-friendly extension should still reflect his value.
The Knicks have placed negotiations on hold. Towns has continued giving them reasons to revisit the numbers.
Karl-Anthony Towns Draws Line on Potential Knicks Pay Cut