It appears Karl-Anthony Towns isn’t willing to give the Knicks a nice discount on an extension.
Talks have stagnated between the two parties, according to Shams Charania and Vincent Goodwill of ESPN, and an agreement is considered unlikely before the team begins training camp next week.
Towns will make $57MM during the upcoming season and has a $61MM player option for the 2027/28 campaign. He’s eligible to receive an extension for up to four years and $273MM.
There have been numerous discussions between the Knicks and Towns’ representatives this offseason but there’s been no movement lately in negotiations, according to the ESPN duo.
Ian Begley of SNY (Twitter link) hears that talks have been positive and the Knicks have made it known that they think highly of Towns and want him to remain long-term. They have discussed deals that start in $45M-$50MM range, Begley adds.
However, the Knicks have major cap concerns in the coming years and owner James Dolan declared after the team won its first championship in 53 years that he wanted to avoid the punitive second tax apron going forward.
Jalen Brunson famously signed a team-friendly four-year, $156.5MM extension two years ago to give the front office more roster flexibility.
Along with cap concerns, the Knicks also have to consider Towns’ age — he will turn 31 in mid-November — and his past injury history.
Towns averaged 20.1 points and 11.9 rebounds during 75 regular-season games last season. He averaged 15.9 points, 10.6 rebounds and 4.9 assists on 55% shooting through last season’s playoffs.
He saw action in 72 regular-season games in 2024/25, his first with New York, but played in 50 or fewer games in three of his last five seasons with Minnesota.
The Knicks’ Josh Hart and Miles McBride are also extension-eligible.