The New York Knicks know the price of winning.
Now comes the cost of keeping the championship core together.
ESPN analyst Kendrick Perkins made his stance clear during Friday’s edition of NBA Today, arguing that Karl-Anthony Towns should not settle for an extension worth less than the recent deals signed by Trae Young and Austin Reaves.
Towns is eligible to sign a four-year extension worth approximately $273 million after helping lead the Knicks to the franchise’s first NBA championship since 1973.
Perkins believes the six-time All-Star has earned every bit of his leverage.
“I’m pocket watching,” Perkins said. “I’m watching and seeing what other guys around the league got. Trae Young got $212 million. Austin Reaves just got $180 million. Karl-Anthony Towns is a champion. He shouldn’t take less than what those two guys got.”
Perkins acknowledged Towns could give the Knicks a slight hometown discount.
Not much more.
“Should he sacrifice a little bit? Maybe so, but not much,” Perkins said. “That man deserves his lettuce.”
Knicks Face Defining Extension Decision
Getty(L-R) Jalen Brunson, Karl-Anthony Towns, and Josh Hart attend the NY Knicks parade at Fanatics Fest NYC 2026 at Jacob Javits Center on July 18, 2026 in New York City.
The conversation came after ESPN front office insider Bobby Marks identified Towns as New York’s most important extension decision entering August.
Marks noted that Towns has been eligible to negotiate a new deal since the NBA Finals ended. If he signs the full four-year, $273 million extension, the Knicks would project to sit roughly $13 million below the second apron next season while still needing to fill several roster spots.
Beyond that, the financial picture becomes even more challenging.
Jalen Brunson becomes eligible for a new max contract in 2028-29, while OG Anunoby also will be in line for another extension. Josh Hart, meanwhile, becomes extension-eligible on Aug. 10 for a four-year deal worth up to as much as approximately $131 million.
“The money starts to add up when you’re New York,” Marks said.
That reality prompted host Malika Andrews to ask whether Towns should feel pressure to accept less money after Knicks owner James Dolan recently reiterated the organization’s desire to avoid becoming a second-apron team.
Perkins wasn’t persuaded.
“That’s his problem, not the players,” he said.
Karl-Anthony Towns Holds Strong Position
Perkins also argued that Towns’ importance extends beyond his individual statistics.
“He’s still the most important player on the Knicks,” Perkins said. “That don’t mean that he’s the best player. He’s the most important player.”
Perkins pointed to Towns’ performance throughout New York’s championship run, particularly his ability to anchor the frontcourt and neutralize opposing star Victor Wembanyama in the NBA Finals.
His comments echoed what ESPN NBA insider Vincent Goodwill reported earlier this week.
Goodwill revealed that Towns sought an extension during the season but never received an offer from the Knicks. Although disappointed, Towns stayed focused on basketball, helping guide New York to both the NBA Cup and its long-awaited championship.
The 30-year-old averaged 20.1 points, 11.9 rebounds and 3.0 assists during the regular season before becoming an offensive hub in the playoffs. Under coach Mike Brown, Towns embraced a larger playmaking role and averaged 15.9 points, 10.6 rebounds and 4.9 assists while shooting 55.1% overall and 45.6% during the Knicks’ 19-game title run in the postseason.
Whether New York ultimately offers the full maximum remains uncertain.
The Knicks must balance rewarding one of the central figures in their championship season with preserving long-term flexibility under the NBA’s increasingly restrictive salary-cap rules.
Perkins, however, believes the equation is simple.
Champions deserve to be paid like champions.
Knicks’ Karl-Anthony Towns Should Earn More Than These 2 Stars, Says Kendrick Perkins