Towns says Knicks extension talks stalled, deal unlikely before season
In short
New York Knicks center Karl-Anthony Towns said contract extension talks with the team have not come close to an agreement, telling reporters it “don't look good” for a deal before the season. Towns is eligible for a four-year extension that Newsweek valued at more than $272 million and Fox News at $277 million, while Fox News, citing the New York Post, reported the Knicks have offered about $200 million. Reuters reported an extension is unlikely before the season starts.
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New York Knicks center Karl-Anthony Towns said his contract extension talks with the team have not progressed, speaking to reporters ahead of the Knicks' preseason game in Philadelphia on Monday. “I want to do something to keep the team together and can work with the Knicks and also values me,” Towns said, according to The Athletic, as cited by Fox News. “And none of those things are close to happening.” Asked whether he expected to sign an extension before the regular season, Towns said, “It don't look good,” Fox News reported. Newsweek, citing Newsday's Steve Popper, reported that Towns openly discussed his frustration with the negotiations. [ 1 , 3 ]
The two sides have not agreed on terms. Newsweek reported Towns is eligible for a four-year extension worth more than $272 million, while Fox News put the figure at $277 million and said he became eligible in August. Fox News, citing the New York Post, reported the Knicks have offered a four-year deal worth approximately $200 million. Newsweek reported New York has been reluctant to offer him the maximum and that avoiding the NBA's second luxury-tax apron remains a priority for the team. [ 1 , 3 ]
Newsweek reported Towns is entering the final guaranteed year of his contract and holds a $61 million player option for the 2027-28 season, and that without an extension he could enter free agency next summer. Fox News described Towns as under contract through the 2027-28 season. [ 1 , 3 ]
Towns played a role in the Knicks' championship run, averaging 15.9 points, 10.6 rebounds and 4.9 assists in the postseason, Newsweek reported. The outlet described the unresolved talks as an uncomfortable issue for a team coming off its first championship in 53 years. [ 1 ]
Fox News reported the Knicks face payroll pressure beyond Towns, noting that point guard Jalen Brunson becomes eligible for a max extension in 2028 and that the team must also weigh keeping players such as Josh Hart. [ 3 ]
Reuters, in a headline-only report, said an extension is unlikely before the season. [ 2 ]
Why it matters
Towns is entering the final guaranteed year of his contract with a $61 million player option for 2027-28, so without an extension he could reach free agency next summer, according to Newsweek. The Knicks are trying to keep their championship core together while staying clear of the NBA's second luxury-tax apron, which constrains what the team can offer.
Key facts
- Karl-Anthony Towns said extension talks with the Knicks have not come close to an agreement [ 1 , 3 ]
- Reuters reported an extension is unlikely before the season [ 2 ]
- Towns is eligible for a four-year extension; Newsweek put it at more than $272 million and Fox News at $277 million [ 1 , 3 ]
- Fox News, citing the New York Post, reported the Knicks offered a four-year deal worth about $200 million [ 3 ]
- Newsweek reported that avoiding the NBA's second luxury-tax apron remains a Knicks priority [ 1 ]
- Newsweek reported Towns averaged 15.9 points, 10.6 rebounds and 4.9 assists in the postseason [ 1 ]
- Newsweek reported Towns is in the final guaranteed year of his deal with a $61 million player option for 2027-28 [ 1 ]
Confirmed by several sources
Still unclear
- The value of the extension Towns is eligible to sign Newsweek says more than $272 million over four years, while Fox News says $277 million; the documents do not reconcile the two figures
- Whether the Knicks offered a four-year deal worth approximately $200 million Single-source claim: Fox News attributes it to the New York Post, and no other document mentions an offer
- How Towns's contract is structured beyond this season Newsweek describes a final guaranteed year plus a $61 million player option for 2027-28, while Fox News says he is under contract through 2027-28; the two descriptions differ
- Whether Towns will enter free agency next summer Newsweek says he could without an extension, and no document states his intentions