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Knicks, Towns Contract Talks Stagnate Ahead of Season
Confirmed
In Short: Karl-Anthony Towns and the New York Knicks have yet to agree on a contract extension, with talks reportedly stalled as the season approaches. ESPN's Shams Charania reported Wednesday that negotiations have 'stagnated,' according to Bleacher Report.
Towns, 30, helped lead the Knicks to their first NBA title in 53 years in June. However, the team's reluctance to offer him a max deal is creating uncertainty heading into the new season. The Knicks are asking Towns to take a discount due to their proximity to the salary cap's second apron, as Stefan Bondy of the New York Post reported.
Towns is eligible for a four-year, $272 million deal this offseason, but the Knicks have offered deals starting in the $45-50 million range, which represents a significant discount. Talks are reportedly cordial, but a deal is unlikely before training camp, according to ESPN.
Owner James Dolan has been clear about his reluctance to go into the second apron, calling it 'suicidal.' This stance led to the departure of key backup Mitchell Robinson, who was allowed to leave for the Boston Celtics. The Knicks have since signed Andre Drummond as a replacement but may pursue a better option down the line.
The Knicks are facing a tight salary cap situation with four key players coming up on new contracts. Towns, who has two years left on a supermax extension with the Minnesota Timberwolves, has a player option for the 2027-28 season. The Knicks have discussed deals with Towns that would start at around $48.4 million, which is a meaningful discount from his max deal.
Towns has been a crucial part of the Knicks' championship run, making two All-Star appearances and an All-NBA selection since joining the team. He played a significant role in the Knicks ending their half-century championship drought in June. However, the Knicks' reluctance to offer him a max deal is creating uncertainty.
League sources say the Knicks want to keep Towns, but they have not found a proper middle ground that appeases both sides. Towns is willing to play on a deal that isn't the max to help the Knicks, but it's still unclear how much he's willing to leave on the table.
The Knicks have held onto Towns past the trade deadline, indicating their desire to keep him. However, unless the negotiations improve, the team may need to explore the trade market for another center who meets specific criteria: being better than Andre Drummond and under contract beyond the 2026-27 campaign.
What this adds
The Knicks' front office tends to ship out core players when they don't reach an agreement before free agency, but they have no choice but to make an exception for Towns.
What's confirmed
- Knicks owner James Dolan said in June that he's not willing to go into the second apron.
What's still developing
- The two sides have had contract talks all summer, and ESPN's Shams Charania reported Wednesday that those talks have "stagnated" as the season approaches.
- While he didn't light up the box score during the playoffs, anyone who watched the Finals knows he was one of the biggest reasons why the Knicks beat Victor Wembanyama and the San Antonio Spurs in five games.
- But as important as Towns is, it would be difficult for New York to give him a max deal while also keeping other key players around for years to come.
- Four of them are coming up on new contracts, and the first known to begin negotiations has thus far resisted New York's offers.
- That sounds like plenty of money, but things start to get tight when you account for Towns and Hart, filling out the remainder of the roster and potentially re-signing key backup Miles McBride.
- The New York Knicks achieved near-perfect basketball harmony on their way to the 2026 championship.
- If the former signs an extension that keeps him in, ahem, town for the foreseeable future, you can get on board with the team signing Drew Eubanks or James Wiseman, and calling it a day.
- Karl-Anthony Towns no longer seems like a lock to sign an extension before the regular season.
- Neither Ian Begley of SNY nor Shams Charania of ESPN paint the negotiations between New York and its big man as hopeless.
- And though the Knicks’ front office tends to ship out core players when they don’t reach an agreement before free agency, they have no choice but to make an exception for Towns.
- Less than a week before training camp begins, the New York Knicks still have a Karl-Anthony Towns-sized elephant in the room.
- Examining players who entered the NBA around the same time as Towns, Washington Wizards guard Trae Young is making just south of $213 million over the next four years.