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, according to The Athletic.
Towns is eligible for a four-year, $276 million extension and has a $61 million player option for the 2027-28 season. The Knicks are also facing significant financial restrictions as they try to remain below the NBA’s second tax apron.
Despite the gap in negotiations, Towns said he is willing to make financial sacrifices to help the Knicks maintain their championship-winning core. However, he also believes the contract should reflect his contributions to the team.
“Simply put, I want to do something that can keep the team together and work with the Knicks and also values me,” Towns said. “None of those things have come close to happening.”
The 30-year-old center joined New York in a trade from the Minnesota Timberwolves before the 2024-25 season and has played a major role in the team’s rise. The Knicks went 53-29 in 2025-26 before winning their first NBA championship since 1973.
Towns averaged 20.1 points, 11.9 rebounds and 3.0 assists in 75 games last season while shooting 50.1% from the field, 36.8% from three-point range and 85.8% from the free-throw line.
According to SNY’s Ian Begley, New York previously offered Towns a contract with a starting salary between $45 million and $50 million. It remains unclear whether that offer has increased.
Towns has reportedly indicated that he is willing to accept less than his maximum earning potential, similar to the approach taken by Jalen Brunson on his previous Knicks extension. However, Malika Andrews previously reported that Towns considers the reduction sought by New York unreasonable.
Towns also appeared to express frustration when asked by the New York Post whether he believes 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.
The Knicks also have extension decisions involving Josh Hart and Miles McBride, although Towns’ situation is viewed as the priority.
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 averaged career highs of 12.0 points and 2.6 assists in 41 games while also shooting 41.3% from deep.
New York’s financial situation makes keeping all three players particularly challenging. Begley estimated that $75 million in combined first-year salary for Towns and Hart could leave only approximately $13 million to $14 million below the second apron for McBride.
The situation could become even tighter 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.
