Knicks, Karl-Anthony Towns at standstill in extension talks

The Knicks won a championship with Karl-Anthony Towns. Paying him for the years ahead is proving a more complicated decision.

Extension talks between Towns and New York have stalled, and a deal is unlikely before training camp begins next week, according to Shams Charania and Vincent Goodwill of ESPN.

Towns is due $57 million this season and holds a $61 million player option for 2027-28. He is eligible for an extension worth up to four years and $277 million.

The Knicks appear to have a smaller number in mind. SNY’s Ian Begley reports that the sides have discussed deals starting in the $45 million to $50 million range. Begley added that talks have been positive and New York has made clear it wants Towns around long term.

Those things can all be true. The Knicks can value Towns, Towns can value himself, and neither side has to like the other’s number.

Jalen Brunson gave New York considerable flexibility when he signed his below-market extension in 2024. That was Brunson’s choice, though. It doesn’t set a price for Towns, who turns 31 in November.

Owner James Dolan has also said he wants to avoid the second tax apron. That makes the gap in these talks more than a matter of negotiation tactics. It’s a question of how much of the Knicks’ future payroll they’re willing to commit to a center who helped them win a title.

There’s time to answer it. Towns is under contract for this season, and that player option gives him another decision after it. Training camp may arrive without an extension, but it won’t settle the larger question.