Overview
- Reports from Tuesday and Wednesday say negotiations have not advanced and there is no considerable offer on the table, with sources describing the sides as tens of millions of dollars apart.
- Karl‑Anthony Towns told reporters at Monday’s media day that he wants to stay in New York, but he sees the Knicks’ requested discount as unreasonable even though he is willing to take some pay cut.
- Media reporting identifies the Knicks’ target as roughly a four‑year, $200 million deal, about $75 million less than Towns’ full four‑year maximum eligibility of roughly $276 million.
- Dolan’s public limit on crossing the NBA’s second luxury‑tax apron is the structural constraint shaping New York’s offer and makes the team press for a below‑max structure rather than an immediate full‑max extension.
- No extension is expected before the season because Towns can sign during the year or use his 2027 player option, and the outcome will affect other big decisions for the franchise such as extensions for Jalen Brunson and Josh Hart and possible roster moves.