Report: Timberwolves Hope To Keep Karl-Anthony Towns Despite Tax Concerns

According to NBA insider Zach Lowe of ESPN, the Minnesota Timberwolves hope to keep Karl-Anthony Towns despite tax concerns. 

Towns and Anthony Edwards have massive extensions kicking in next season and Rudy Gobert is slated to make max money as well.

Towns or Gobert have to be traded for the Timberwolves to avoid paying a huge luxury tax bill under the new CBA.

Towns averaged 21.8 points, 8.3 rebounds, 3.0 assists, 0.7 steals and 0.7 blocks in 2023-24 while shooting 50.4% from the field, 41.6% from beyond the arc and 87.3% from the free-throw line. 

The Timberwolves lost to the Dallas Mavericks in the conference finals in five games. 

A four-time All-Star, Towns has career averages of 22.9 points, 10.8 rebounds, 3.2 assists, 0.8 steals and 1.3 blocks. He was the first overall pick in the 2015 NBA Draft out of Kentucky. 

Towns, who has made two All-NBA teams, signed a four-year, $221 million extension in July 2022. He will make $49.4 million next season. 

According to NBA insider Fred Katz of The Athletic, the New York Knicks have never engaged in serious trade negotiations for Towns even though New York president Leon Rose used to be Towns’ agent when he ran CAA.

Towns was born and raised in Edison, New Jersey.

“The Knicks have always had an eye on Towns, though this front office has never engaged in serious trade negotiations for him, according to league sources,” Katz wrote. “He’s a CAA client, one of the most-skilled offensive bigs ever to touch a basketball and though he had a complicated relationship with Knicks head coach Tom Thibodeau back when Thibodeau coached him in Minnesota, there are people around the coach who believe the two have reconciled and would work well together now (though you never know until you see it in person).”

The Knicks acquired Mikal Bridges from the Brooklyn Nets. They are expected to re-sign OG Anunoby but could lose Isaiah Hartenstein.