Towns says Knicks extension talks not close; offer reported at $200 million
Karl-Anthony Towns said Monday that his contract-extension talks with the New York Knicks are not close. Asked whether the sides could agree before the regular season, he said, "It doesn't look good," according to Daily Mail.
The Knicks' offer is four years and about $200 million, the New York Post reported, according to Daily Mail, and ESPN's Shams Charania reported the same terms for the latest offer, citing sources. Neither the team nor Towns' camp has confirmed the figure, and guaranteed money and year-by-year structure were not disclosed.
Towns spoke to reporters before the Knicks' preseason opener, a 120-97 loss to the Philadelphia 76ers, Yahoo reported. "Simply put, I want to do something to keep the team together and can work with the Knicks and also values me. And none of those things are close to happening," he said, as quoted by Daily Mail.
Towns is eligible for a four-year maximum extension, which ESPN put at $276 million through the 2030-31 season and Daily Mail put at $277 million. He has said he is willing to take a discount from the max, Daily Mail reported, and ESPN reported he is willing to meet somewhere in the middle.
Asked whether he should be rewarded, Towns said, "No s***, Sherlock. I just won a championship." He added, "You'd think it was pretty easy. Unless you guys [reporters] think I have something else to prove," according to Daily Mail.
ESPN reported that a max contract for the 30-year-old All-Star center would raise major second-apron concerns, and that owner James Dolan has shown no interest in going into the second apron. Daily Mail reported the Knicks hope to stay below it.
In 2025-26, the roster that won the title carried the 3rd-highest Effective Payroll in the league and won the 6th-most games, 53, per WAGE.
That payroll of $252.1 million included a luxury tax of $44.6 million last season, and the return rated a team WAGE Score of 46, Going Rate.
A Towns extension would change the payroll from the season it starts. The reporting does not say where either the offer or the max would put the Knicks against the second apron.
Towns is not the only extension on the calendar. Josh Hart and Miles McBride are extension-eligible until June, and Jalen Brunson becomes extension-eligible next season, Daily Mail reported.