Karl-Anthony Towns is entering the final year of his contract with the New York Knicks. The big man and the reigning champions are in negotiations, but these currently appear to have reached an impasse.
As reported by Shams Charania and Vincent Goodwill (both ESPN), there have been talks regarding a contract extension with Karl-Anthony Towns, but these have so far failed to yield a result. An agreement before the start of pre-season training is considered unlikely.
The big man is set to earn $57.1 million in the coming season and also holds a player option worth $61 million. However, this also means that Towns can opt out of his contract in 2027. A new maximum contract could span four years, during which KAT could earn up to $273 million.
The 30-year-old won the Knicks’ first championship in 53 years last season and played a pivotal role in the victory. In the play-offs, the Dominican Republic international averaged 15.9 points, 10.6 rebounds and 4.9 assists, shooting 55.1 per cent from the field. Both sides subsequently insisted that they wanted to continue working together, but nothing has happened yet.
The Knicks and the fear of the second apron
Knicks owner James Dolan had already announced that the franchise was determined to avoid slipping into the second apron at all costs, but a maximum contract extension for Towns would mean having to make cutbacks elsewhere. Moreover, Towns is not the only player whose contract expires this summer.
Negotiations may also be on the cards for Josh Hart; the forward has a team option worth $22.4 million for the 2027/28 season. The Knicks are currently around $3.3 million below the second apron, but still need to sign at least one more player to meet the NBA’s minimum requirements.