The New York Knicks are unlikely to reach contract extensions with Karl-Anthony Towns, Josh Hart or Miles McBride before the regular season begins, according to Ian Begley of SNY.
The biggest issue is Towns, with a significant gap remaining between what the Knicks are offering and what the four-time All-Star is seeking.
“Logically, the Knicks need to figure out Towns’ situation before they can address Hart or McBride,” Begley reported. Towns’ $61 million player option for the 2027-28 season is a major factor in New York’s long-term financial planning.
Towns is reportedly willing to take less than his maximum earning potential to remain with the Knicks, similar to the approach Jalen Brunson took. However, Malika Andrews previously reported that Towns considers the pay cut New York is seeking unreasonable.
The Knicks previously offered Towns a contract with a starting salary between $45 million and $50 million, according to SNY. It remains unclear whether that offer has increased.
Hart is also eligible for an extension, with The Athletic previously reporting that a three-year deal worth between $54 million and $62 million could represent a potential middle ground. That would give Hart an annual salary of approximately $18 million to $20.7 million.
The 31-year-old 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. His 7.4 rebounds per game were particularly notable for a 6-foot-5 player.
McBride, meanwhile, is entering the final season of his three-year, $13 million contract. The 26-year-old averaged career highs of 12.0 points and 2.6 assists in 41 games last season while shooting 41.3% from three-point range.
McBride has also expressed disappointment with the lack of progress in extension talks while making clear that he wants to remain in New York. Head coach Mike Brown has similarly said that both sides want McBride to stay.
“But at the end of the day, he wants to be here, we want him to be here,” Brown said.
The financial constraints make extending all three players particularly difficult if the Knicks remain committed to staying below the NBA’s second tax apron.
Begley estimated that if Towns and Hart received a combined $75 million in first-year salary on extensions, New York could have only roughly $13 million to $14 million in second-apron room for McBride. The situation becomes even more restrictive in 2028-29 if Brunson signs a maximum extension.
Under a scenario involving Brunson’s new deal and $75 million to $80 million combined for Towns and Hart, the Knicks could have approximately $10 million below the second apron for McBride or another player. That calculation also does not account for a potential OG Anunoby extension.
Hart acknowledged that the uncertainty surrounding his future can have an impact beyond basketball.
“Once the season starts (and if no extension is reached), I’ll probably have that mentality of ‘I don’t really wanna deal with this, I want to try and focus on playing the season,’” Hart said. “(But) I’m sure there will probably be a little extra weight to the jersey.”
The Knicks are therefore facing a difficult balancing act as they attempt to keep their championship core together while remaining below the second apron.
