Knicks Halt Contract Talks with Towns

The New York Knicks have decided to pause all negotiations for contract extensions, which includes their heated discussions with Karl-Anthony Towns.

This development comes just four days after Towns expressed his displeasure about what he perceived as a disrespectful offer. On Friday morning, the Knicks put out a statement indicating they want to focus on the upcoming season rather than engage in further talks for the time being.

It’s becoming clear that the team and Towns are not anywhere near a deal as the regular-season opener on October 20 approaches.

“As an organization, our entire focus is on preparing for the upcoming season and delivering another year for our fans to be proud of,” a Knicks spokesperson stated. “As a result, we will not be negotiating contract extensions until later in the season and will remain solely focused on preparing for the start of the season.”

Currently, both Josh Hart and Miles McBride, along with Towns, are eligible for contract extensions. They can negotiate through June, but typically, deals are finalized before the season kicks off to minimize distractions.

Instead of moving forward, the Knicks indicated they’re halting discussions as they comply with owner James Dolan’s directive to remain beneath the salary cap’s second apron.

Reports suggest that the Knicks proposed a four-year deal worth approximately $200 million to Towns, which is significantly less than his maximum allowable contract by about $77 million. Although Towns was open to accepting a discount, the offered amount seemed excessively low to him.

Towns mentioned on Monday, “Simply put: I want to do something to keep the team together and can work with the Knicks and also (a contract that) values me. And none of those things are close to happening.”

When asked about his expectations for a reward after helping end the franchise’s long championship drought, Towns’ retort was blunt: “No s- -t, Sherlock. I just won a championship. You’d think it was pretty easy. Unless you guys (the reporters) think I have something else to prove.”

Towns, who is set to earn $57 million this season, left the Knicks’ preseason loss to the Wizards without addressing the media.

He has a significant decision to make regarding a $61 million player option for next season. If no extension is reached and he performs well this season, Towns could opt out and pursue a substantial contract in free agency in 2027. Conversely, if the season doesn’t go well, he can choose to utilize the option for a hefty paycheck next year.

Hart, on the other hand, has less negotiating power as he has a team option for next season. He noted during Media Day that there hasn’t been any progress regarding his extension talks, and he doesn’t anticipate reaching an agreement before the season commences.

McBride faces a different situation as he has no player options. Without an extension, he will undoubtedly enter free agency after the season.