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Towns' Contract Extension Talks Not Looking Good for Knicks
Confirmed
In Short: Karl-Anthony Towns said Monday that extension talks with the Knicks are not going well.
Karl-Anthony Towns expressed disappointment on Monday about the progress of his contract extension talks with the New York Knicks, saying, "It don't look good," ahead of the team's preseason opener in Philadelphia.
Towns, a six-time All-Star and key player in the Knicks' championship run last season, had hoped for a quick agreement after helping the team win its first NBA title in over 50 years.
The Knicks' current offer is for a four-year deal worth approximately $200 million, nearly $77 million below the maximum they could offer.
Towns has indicated he is willing to take less than the max to help build the roster, much like Jalen Brunson did to help the team last season.
Owner James Dolan has made it clear that the Knicks will not go into the second spending apron, which means tough decisions will need to be made.
The Knicks face financial constraints under the NBA’s luxury tax and apron system, with upcoming extensions for Jalen Brunson, Josh Hart, and OG Anunoby on the horizon.
Towns, who averaged 15.9 points, 10.6 rebounds, and 4.9 assists in the playoffs, remains optimistic about staying with the Knicks but is frustrated with the current offer.
"I just won a championship. You'd think it was pretty easy. Unless you guys [reporters] think I have something else to prove," Towns said, highlighting his desire to remain with the team long-term.
What this adds
The Knicks' decision to not re-sign backup center Mitchell Robinson in the offseason adds to the financial pressure on the team.
Sources told ESPN's Shams Charania that the Knicks' latest offer to Towns was a four-year deal worth approximately $200 million.
What's confirmed
- "It don't look good," said Towns of getting an extension done before the season, per The Athletic.
- His comments on Monday indicate the Knicks are not meeting him in the middle to his liking, and according to the New York Post, the Knicks' current offer is for $200 million over four years -- nearly $77 million below the max they could offer.
- Simply put, I want to do something that can keep the team together and work with the Knicks and also values me.
- "None of those things have come close to happening." Information from ESPN's Vincent Goodwill was used in this report.
- "I just won a championship. You'd think it was pretty easy. Unless you guys [reporters] think I have something else to prove."
What's still developing
- But Knicks ownership is something of a wild card in the sense that Dolan has never been one to feel the need to appease fans.
- The Knicks have other extensions to worry about in the next 12 months, with Josh Hart also extension-eligible this summer and then OG Anunoby and Jalen Brunson up for new deals in 2027.
- Does that mean the Knicks should reward Towns for his hand in ending a 53-year title drought?
- Entering his third season with the Knicks after nine seasons with the Minnesota Timberwolves, Towns has career averages of 22.8 points, 11.1 rebounds and 3.1 assists in 720 games (all starts).
- Harris, who signed a two-year, $31 million deal with… Gabby Williams scored a game-high 25 points, the Golden State bench outscored its Las Vegas counterparts 27-7 and the second-seeded Valkyries opened the best-of-five WNBA semifinals with a 71-60 victory… Knicks All-Star center Karl-Anthony Towns, a centerpiece in New York’s championship season, is not optimistic a contract extension will be finalized before the season opens in two weeks.
- He is extension eligible for up to four years and $276 million but has said he would take a discount off that number because he wants to stay in New York (the sides have until the end of the season to reach a deal).
- Not only is that $76 million his max, but also the average annual salary of $50 million in the Knicks offer is asking him to take a pay cut off what he is making this season — coming off a title.
- Starting in 2028-29, there very likely will be a Jalen Brunson extension — don’t expect another $113 million discount again — and that’s also when a Josh Hart extension would start, and an OG Anunoby extension could begin.