There is common ground in the ongoing contract extension talks: Karl-Anthony Towns wants to stay in New York and even retire someday as a Knick; New York wants to keep the center who was a key part of its championship core.
As always, it comes down to money — and the sides are not close, reports ESPN’s Brian Windhorst on the Hoop Collective Podcast (hat tip Real GM).
“I want to talk about the overall value of the contract, because Karl-Anthony Towns is eligible to sign a four-year, $276 million extension. That’s his max that he’s eligible to get… He and his side have a position on what he wants to sign for. The Knicks have a position on what they have offered. So those are the parameters. From what I understand, they are tens of millions apart. They’re not close.”
Then ESPN’s Tim MacMahon chimed in:
“I believe that they could be eight figures apart on an annual basis.”
Towns is under contract this season for $57 million. The extension talks start with 2027-28, when Towns has a $61 million player option. New York wants Towns to opt out of that big number and take less per year in exchange for more guaranteed money across multiple years, but the question is: how much less per year? A contract that starts at $45 million a season? $55 million? Whatever that starting number is impacts the overall number of that contract.
Towns is just the first contract the Knicks are dealing with, a wave of extensions is about to roll in over this team — and owner James Dolan has repeatedly said it would be “suicidal” to be over the second apron. In 2028-29 (two seasons out), a Jalen Brunson extension would kick in (don’t expect a massive discount this time around), a Josh Hart extension also would begin, and an OG Anunoby extension likely would start that season as well. With all of that, keeping this championship core together gets incredibly difficult. The Ringer’s Zach Lowe said on a recent podcast he projects the Knicks at the luxury tax with just nine players on the roster in two years.
That said, the Knicks want to keep Towns, an All-Star and All-NBA center, an anchor of a championship team, a fan favorite and now a New York legend. And Towns wants to say.
But money issues have broken up plenty of relationships.
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