Contract extension talks between Karl-Anthony Towns and the New York Knicks have stalled, with an agreement considered unlikely before training camp begins next week, according to multiple reports.
The sides spent much of the offseason discussing a new deal but have made little recent progress despite expressing mutual interest in continuing their partnership.
Towns, 30, is eligible for an extension worth approximately $273 million over four years. He is scheduled to make $57 million this season and holds a $61 million player option for 2027-28, which he could decline to become a free agent next summer.
There is no immediate deadline for an agreement, meaning negotiations could continue during the season.
The impasse comes three months after Towns helped New York capture its first NBA championship in 53 years. He averaged 15.9 points, 10.6 rebounds and 4.9 assists while shooting 55.1% from the field during the postseason, as the Knicks went 16-3 and defeated the San Antonio Spurs in five games in the NBA Finals.
Towns has made the All-Star team in each of his two seasons with New York since arriving in a trade from the Minnesota Timberwolves in October 2024. He averaged 20.1 points and 11.9 rebounds in 75 games last season and has averaged 22.8 points and 11.1 rebounds over his 11-year career.
The Knicks’ financial outlook has complicated negotiations.
Owner James Dolan has publicly said New York does not intend to cross the NBA’s second luxury-tax apron, which carries significant roster-building restrictions. That stance contributed to the Knicks allowing center Mitchell Robinson to leave for the Boston Celtics during the offseason.
New York also has several other major contract decisions approaching.
Josh Hart is currently eligible for an extension, while Jalen Brunson and OG Anunoby can negotiate new deals next offseason. Mikal Bridges signed a four-year, $150 million extension in 2025.
New York reportedly would prefer Towns to take less than the maximum extension as it tries to preserve flexibility around its championship core.
For now, an agreement seems highly unlikely when the Knicks report for camp.
