The New York Knicks are still riding high from the team’s historic NBA championship, but to quote Notorious BIG it could be “Mo Money Mo Problems” in Gotham City. More specifically, the Knicks’ expensive bill continues to grow as the franchise attempts to keep their championship roster intact.
Decisions on Karl-Anthony Towns and Josh Hart remain the most pressing. Both players could be free agents as soon as the upcoming 2027 offseason.
Towns has a player-option that would allow him to forgo the final season of a four-year, $220 million contract and become a free agent in 2027. The Knicks have a bit more control when it comes to Hart’s future as the franchise has a team option for the wing as part of his four-year, $80 million contract.
The challenge is if the Knicks pay both players the max amount each veteran can earn, New York will end up committing more than $408 million just to these two athletes.
The Wall Street Journal’s Robert O’Connell is the latest analyst to warn the Knicks about the growing price that comes with winning an NBA championship. For now, the Knicks will celebrate a title by raising a banner ahead of the NBA season opener versus LeBron James and the Philadelphia 76ers.
Yet, the bigger question is whether the Knicks can afford to raise another banner in the foreseeable future.
Knicks News: Karl-Anthony Towns Is Eligible for a $276 Million Contract Extension
Towns can earn as much as a four-year, $276 million extension. There appears to be a wide gap between this number and the $200 million the Knicks have offered Towns thus far, per The Athletic’s James L. Edwards III.
“The Knicks have offered Towns a new deal around $200 million in total, according to league sources who spoke on the condition of anonymity so they could discuss ongoing deliberations,” Edwards detailed in an October 9, article titled, “Knicks take rare step to say no contract talks until ‘later in season’. What’s next for KAT, others?”
The Knicks Face Decision on Josh Hart’s Future Amid Potential $132 Million Contract
Hart’s bill is less expensive, but the guard can still land as much as a four-year, $132 million extension, per Yahoo Sports’ Dan Devine. The Knicks have attempted to quiet the noise about the ongoing contract talks by releasing a statement that the franchise has tabled discussions.
Time will tell if this strategy will work for the Knicks as the NBA season tips off.
“As an organization, our entire focus is preparing for the upcoming season and delivering another year for our fans to be proud of,” the Knicks said in an early October statement, per ESPN.
“As a result, we will not be negotiating contract extensions until later in the season and will remain solely focused on preparing for the start of the season.”
Karl-Anthony Towns Calls Out Knicks on Ending Contract Talks: ‘Very Disappointed to Say the Least’
Part of the tension is the potential impact that the looming contract decisions will have on this season. Towns admitted to being frustrated by the Knicks’ decision to table contract talks.
“It was news to me,” Towns said on October 11, per ESPN’s Vincent Goodwill. “Very disappointed to say the least.
“Let’s state the obvious: It’s business, but there is business on the court for us to handle.”
Knicks Face $408 Million Dilemma as Troubling News Emerges Before 76ers Game