The New York Knicks will begin the defense of their championship with an unresolved question hanging over one of their most important players.
Contract negotiations between Karl-Anthony Towns and the Knicks have stagnated, making an extension before training camp unlikely, ESPN’s Shams Charania reported Wednesday on “NBA Today.”
The sides held extensive discussions throughout the offseason, according to Charania, and those conversations remained cordial. They simply did not produce enough movement to close the considerable financial distance between them.
“As it stands right now, a deal going into training camp is considered unlikely,” Charania said.
That does not end the conversation. Unlike players on rookie contracts facing a preseason deadline, Towns can sign an extension during the season. The Knicks could revisit negotiations whenever circumstances—or expectations—change.
For now, however, a potential four-year deal worth roughly $276 million remains unsigned.
Karl-Anthony Towns’ Future Becomes Knicks’ Biggest Question
Towns is entering the final guaranteed season of his contract and holds a player option worth approximately $61 million for 2027-28. If he declines it, he could reach free agency next summer when roughly eight teams are projected to have salary-cap space.
Several could need a center.
That gives Towns meaningful leverage. The six-time All-Star helped the Knicks end a 53-year championship drought, providing the shooting and offensive versatility that transformed their frontcourt. He would enter the market as one of the most accomplished players available if he chooses free agency.
The Knicks, though, are balancing Towns’ value against the cost of preserving their championship roster.
Towns is already scheduled to earn approximately $57.1 million this season. A maximum extension would push his salary deeper into territory that could make New York’s preferred financial structure impossible to maintain.
James Dolan’s Second-Apron Stance Complicates Negotiations
Owner James Dolan has publicly made clear that the Knicks do not intend to operate above the NBA’s second apron. The team remains below that threshold this season, but bringing back the same expensive core in 2027-28 would push it beyond the line.
The second apron is more than a luxury-tax concern. It restricts trades, limits access to exceptions and makes it significantly harder for contenders to repair weaknesses around expensive stars.
Change has already begun. Mitchell Robinson, a pivotal member of the championship rotation, left for the Boston Celtics in free agency after New York declined to match the market for him.
Josh Hart also remains without an extension despite being eligible for a new contract. His situation, combined with the Towns stalemate, illustrates the difficult choices facing team president Leon Rose.
Jalen Brunson previously accepted a below-market extension that helped New York preserve flexibility and eventually construct a championship roster. The Knicks would benefit if Towns made a similar concession, but he is under no obligation to surrender what could be the final enormous contract of his career.
There is no public indication of hostility between Towns and the organization. This is a negotiation between a champion trying to control its long-term costs and an All-NBA-caliber center who understands his market.
The Knicks still have time. What they no longer have is an offseason free of uncertainty.
As training camp approaches, Towns remains committed to helping New York repeat. Whether the Knicks are prepared to commit to him through the rest of his prime is now the cloud following them into the season.
Knicks’ $276 Million Karl-Anthony Towns Decision Takes Stunning Turn