Extension talks with Karl-Anthony Towns have stalled as Knicks training camp nears, but the sides haven’t given up on an agreement.
Towns has been eligible for an extension since early August and the Knicks, as The Post reported earlier this month, are asking him to take a discount from his max of four years, $272 million.
It’s part of the front office’s attempt to keep the championship core together amid James Dolan’s mandate of staying below the second apron. With Jalen Brunson eligible for a big extension next year (four years, $257 million), the Knicks are watching their spending now and Towns — a multi-time All-Star — is in the middle.
New York’s exact offer to Towns is unclear but ESPN reported Wednesday that “a deal before training camp is considered unlikely.” It’s relevant because the story will now hang over camp and beyond.
But the sides also have all season to negotiate.
“There’s been plenty of conversations with KAT, all cordial, all positive,” a league source told The Post. “We want KAT to be here for a long time.
“And just because a deal isn’t done now doesn’t mean it can’t get done.”
Towns was also eligible for an extension before last season and didn’t come close to an agreement. He expressed a desire to stay with the Knicks and was key to the championship run, transforming into a playmaking force at the elbow while elevating his defense in the playoffs.
Both Towns and the Knicks can feel they have leverage in these negotiations. With the Knicks, there’s time to assess since contract eligibility extends through the season. For Towns, who visibly dropped weight in the offseason, there’s the threat of leaving in free agency in 2027 while armed with the security of a player option. If Towns is injured this season or underwhelms, he can pick up the option and be paid $61 million for the 2027-28 campaign.
The Knicks already sacrificed one player to stay below the second apron, allowing Mitchell Robinson to leave in free agency this summer and sign with the Celtics. Towns, who was either the Knicks’ second or third best player during the playoffs, is obviously more important.
Josh Hart and Miles McBride are also eligible for extensions. Hart has a team option in his contract but McBride would become a free agent next summer with no deal.
The Knicks will host Media Day on Monday at their Tarrytown facility, where Towns will undoubtedly be asked about his extension negotiations. It’s worth noting that he has a longtime relationship with team president Leon Rose, who once served as Towns’ agent.
Last season, Towns was asked by The Post about not agreeing to an extension and said, “Hell yeah I want to stay here. Obviously get a chance to be home, see my family. It means more than the money, you know. So just to be able to be here with the fans, be with the family. It means a lot. I would like it to continue.”
