[Fischer] The Knicks are “far more interested” in signing Towns to a contract closer to a 4-year, \(200M deal compared to the 4-year, \)276M extension he is eligible to sign. KAT is prepared to sign for less than his max, but the 2 sides are significantly apart on value. Towns can become a FA in 2027.
The New York Knicks are hoping that Karl-Anthony Towns is willing to leave around $75 million on the table.
New York would be “far more” interested in giving Towns a new contract of four years and \(200 million, Bleacher Report’s Jake Fischer reported on Tuesday. That is notably much less than Towns’ full max figure of four years and \)276 million.
Towns, who turns 31 in November, is currently in a contract standoff with the Knicks. We learned earlier this week that New York has been asking Towns to take a pay cut and that Towns was now seen as unlikely to agree to a new extension before the season as a result.
Can the Knicks Break the 8-Year No-Repeat Streak? The former No. 1 overall pick Towns has been a stellar player for the Knicks ever since arriving in a 2024 trade with the Minnesota Timberwolves. Towns has been an All-Star and a 20-ppg scorer in each of his first two seasons with New York and also played a major role in the Knicks’ 2026 NBA championship victory.
But even at a figure of \(50 million per year, Towns would still be taking a discount, relative to both his max number and his current contract. For reference, Towns is currently signed for \)57.1 million next season and also has a $61 million player option for 2027-28.
The Knicks are trying to avoid the second apron of the luxury tax at all costs and also have to position themselves for No. 1 option Jalen Brunson’s expected mammoth extension next summer. As a result, Towns is being asked to take a haircut, which may only be adding to his reported frustrations with the team.