Karl-Anthony Towns does not expect to sign a contract extension with the New York Knicks before the start of the regular season, with the two sides still far apart in negotiations.
“It don’t look good,” Towns said Monday morning in Philadelphia after the Knicks’ shootaround.
Towns is eligible for a four-year, $276 million extension and holds a $61 million player option for the 2027-28 season. New York, however, is navigating significant financial restrictions as it attempts to remain below the NBA’s second tax apron.
The 30-year-old center said he is willing to sacrifice some potential earnings to help preserve the championship-winning core, but he also wants his contract to reflect his value to the Knicks.
“Simply put, I want to do something that can keep the team together and work with the Knicks and also values me,” Towns said, per Brandon “Scoop B” Robinson. “None of those things have come close to happening.”
According to SNY’s Ian Begley, New York previously offered Towns a deal with a starting salary between $45 million and $50 million. It remains unclear whether the Knicks have increased that offer.
Towns has reportedly indicated a willingness to accept less than his maximum earning potential, similar to Jalen Brunson’s previous approach with New York. However, Malika Andrews previously reported that Towns viewed the reduction sought by the Knicks as unreasonable.
The tension comes after Towns helped deliver the franchise its first NBA championship since 1973. New York went 53-29 during the 2025-26 regular season before defeating the San Antonio Spurs 4-1 in the NBA Finals.
Towns averaged 20.1 points, 11.9 rebounds and 3.0 assists in 75 regular-season games, shooting 50.1% from the field, 36.8% from three-point range and 85.8% from the free-throw line. He then averaged 23.5 points, 12.2 rebounds and 3.4 assists during the playoffs, according to the supplied figures.
Towns also made his frustration clear when asked by the New York Post whether he believed he should be rewarded for last season.
“No s–t Sherlock. 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.
New York’s financial constraints extend beyond Towns. The Knicks also have extension decisions involving Josh Hart and Miles McBride, making the front office’s salary-cap planning increasingly difficult.
Hart averaged 12.0 points, 7.4 rebounds and 4.8 assists in 66 games last season while shooting a career-best 41.3% from three-point range. McBride posted career highs of 12.0 points and 2.6 assists in 41 games while also shooting 41.3% from deep.
Begley estimated that $75 million in combined first-year salary for Towns and Hart could leave New York with only approximately $13 million to $14 million below the second apron for McBride.
The financial pressure could become even greater in 2028-29 if Brunson signs a maximum extension, potentially leaving around $10 million for McBride or another player before accounting for a possible OG Anunoby extension.
