Knicks’ Future Clouded by Contract Decisions
The business side of the Knicks seems poised to overshadow the team’s celebratory mood.
Next season, they could nearly have their championship roster intact, with the notable exception of Mitchell Robinson heading to the Celtics.
However, lingering questions about the present and future remain.
In today’s NBA, the current collective bargaining agreement promotes competitiveness, complicating the ability for championship teams to maintain their core for extended periods.
For the Knicks, while they have a year before these issues force their hand, critical decisions about their future are already on the horizon.
Karl-Anthony Towns’ contract situation is a significant point of concern this offseason, and it’s likely to stay relevant throughout the year.
He’s set to earn approximately $57 million next year, along with a $61 million player option for the 2027-28 season.
Towns qualifies for an extension, with the maximum offer from the Knicks being a four-year deal valued at $272 million, which averages about $68 million annually.
If an agreement isn’t made and Towns opts to test free agency in 2027, he could receive a veteran maximum of around $266.6 million over four years. Notably, that figure might rise if he plays out his option and becomes a free agent in 2028.
After guiding the Knicks to the Eastern Conference Finals for the first time in 25 years during his first season and bringing home their first championship in over half a century the following year, Towns’ value is undoubtedly recognized.
His last two seasons have helped to shed some of the negative perceptions that have lingered throughout his career, leading to a wave of praise from supporters and the media, along with some disingenuous apologies.
During the playoffs, the Knicks revamped their offense, leaning heavily on Towns and his playmaking skills. He’s also demonstrated his defensive prowess, confirming his status as an elite big.
However, it’s worth noting that the kind of salary Towns commands typically goes to the top player on a team—not necessarily the second or third. While he holds the title of the highest-paid Knick, this is largely due to Jalen Brunson’s well-known financial sacrifice, leaving about $113 million available.
As Towns approaches 31 next season, an extension would place him in his mid-30s, but, generally, big men tend to age differently compared to their smaller counterparts.
Brunson, meanwhile, is aiming for an extension in the 2028 offseason, expressing a willingness to negotiate, as hinted in a recent interview.
With chairman Leon Rose and his team adeptly managing the salary cap, the feasibility of retaining both Brunson and Towns alongside players like OG Anunoby and Mikal Bridges—who are already signed long-term—looks questionable.
Josh Hart’s future is also uncertain, as he’s set to make just under $21 million next year, with a $22 million team option for 2027-28.
The Knicks have already been tightening their budget to remain under the second apron this offseason, making it increasingly challenging to retain all five starters with new, pricier contracts.
Unless Towns, like Brunson, is willing to make a concession, they might find common ground on a below-cap extension. On the other hand, he might view this championship as a chance to validate his worth as a player and, crucially, as a winner, something he’s aimed to prove throughout his career.
Until there’s more clarity on these matters, it’s clear that this will be a pressing concern moving forward.
