Karl-Anthony Towns has repeatedly stated his goal is a new deal to remain with the New York Knicks. Since the NBA Finals concluded in June, Towns has been eligible for a four-year, $276 million contract extension that would keep him with the defending champs through the 2030-31 season. However, the Knicks' latest offer to Towns was a four-year deal worth approximately $200 million.
The reason: A max contract for the 30-year-old All-Star center would introduce major second apron concerns, a space Knicks owner James Dolan has shown no interest in occupying. Towns says he is willing to meet somewhere in the middle: "I want to do something that can keep the team together and work with the Knicks and also values me." None of those things have come close to happening. Towns has every reason to push hard in these negotiations.
Recent history suggests that teams basking in the championship afterglow almost always do what it takes to financially reward their core players. Although Jalen Brunson and OG Anunoby outperformed Towns in the NBA Finals, the Knicks should view the 7-footer as an indispensable part of their title formula. Without Towns to space the floor, New York's Brunson-led offense wouldn't be as effective.
Without Towns stepping up defensively against Victor Wembanyama, New York likely wouldn't have waltzed to a five-game Finals victory. And without Towns, the Knicks would be stuck with Andre Drummond as their best remaining center. Towns inked a four-year, $220.4 million extension with the Minnesota Timberwolves in 2022.
While that deal looked questionable at the time, the Timberwolves were able to recoup solid value when they traded him to the Knicks in 2024, and he delivered a 2025 All-NBA selection before serving as a vital part of the 2026 title team. Towns' availability in New York has also been excellent: He has appeared in 90% of the Knicks' regular-season games and all their playoff games the past two seasons. Philadelphia 76ers center Joel Embiid signed a three-year, $193 million extension in 2024.
Towns doesn't deserve to be in that ballpark because he's not being paid to be New York's franchise player. But Towns can argue that he is a more accomplished player than Miami Heat center Bam Adebayo (three-year, $166 million extension in 2024) and Cleveland Cavaliers big man Evan Mobley (five-year, $269 million extension in 2024). And at 30, Towns shouldn't suffer major age-related decline until the latter stages of his next contract.
A four-year, $220 million extension would give Towns a higher AAV than Adebayo and Mobley and a significantly lower AAV than Nikola Jokic, Anthony Davis, Giannis Antetokounmpo and Embiid. Meeting at $220 million would also provide the Knicks with real savings under his four-year, $276 million maximum extension number.
Source: ESPN NBA · Summarized by HeadlinesBriefing