The Knicks and Karl-Anthony Towns have spent the offseason talking extension, but the conversations have cooled enough that a deal now looks unlikely before training camp opens next week.
According to Shams Charania and Vincent Goodwill of ESPN, the sides have hit a standstill. Towns is due $57MM this season and holds a $61MM player option for 2027/28, and he remains eligible for a deal worth as much as four years and $277MM. ESPN’s reporting says there have been plenty of discussions between the Knicks and Towns’ camp over the summer, but the momentum has faded in recent days.
Ian Begley of SNY reported that the talks have been positive and that New York has made clear how much it values Towns and wants him around for the long haul. Begley added that the Knicks have discussed extensions that would begin in the $45M-$50MM range.
Still, this is where the business side starts to bite. New York has serious cap issues ahead, and owner James Dolan said after the team won its first championship in 53 years that he wanted to stay out of the punitive second tax apron going forward. The Knicks also have to weigh the age factor - Towns turns 31 in mid-November - along with his injury history.
Brunson’s extension from two years ago is part of the larger picture, too. Jalen Brunson took a team-friendly four-year, $156.5MM deal to give the front office more room to maneuver.
On the court, Towns delivered a strong first season in New York. He averaged 20.1 points and 11.9 rebounds across 75 regular-season games, then posted 15.9 points, 10.6 rebounds and 4.9 assists while shooting 55% in last season’s playoffs. He appeared in 72 regular-season games in 2024/25, his first year with the Knicks, though he had played 50 or fewer games in three of his previous five seasons with Minnesota.
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