In an effort to calm chatter around contract extensions for Karl-Anthony Towns and Josh Hart — talk that was becoming a distraction less than two weeks before they raised the championship banner at Madison Square Garden — the New York Knicks announced they were postponing all extension negotiations with eligible players until later in the season.
Through a spokesperson, the Knicks released this statement:
“As an organization, our primary goal is to prepare for the upcoming season and deliver another year that our fans can be proud of. Therefore, we will not negotiate contract extensions until later in the season and will remain solely focused on preparing for the start of the season.”
That applies to four players: Towns, Hart and guards Miles McBride and Tyler Kolek. The deadline to make deals is June 30, 2027. Towns and Hart posted to X after the announcement and didn’t seem bothered by it.
To what extent has Towns’ frustration with contract negotiations become a distraction? Last night, after the NBA TV broadcast of the Knicks vs Wizards preparatory game, NBA Insider Chris Haynes Gave Another Update on contract extension talks between Towns and the Knicks (echoing earlier reports that Towns wasn’t asking for the max, but that the sides were far apart). It’s on the NBA’s own network. Questions about Towns and Hart’s extensions have become a near-daily topic of discussion within the team.
Postponing negotiations may calm things down for a while and calm the rhetoric a bit, but it doesn’t solve the underlying problems. Without someone (or anyone) on a massive discount, it will be impossible for the Knicks to keep their championship core together in a few years and remain under the second apron of the luxury tax, and owner James Dolan has repeatedly said it would be “suicidal” to exceed that limit. Players may be open to small cuts to help the team, but not massive cuts.
Using Towns as an example, he is eligible for a four-year, $276 million extension, but has expressed willingness to take a discount to help the team. The Knicks reportedly offered four years, $200 million, which would require a significant pay cut from the $57.1 million he’ll make this season, let alone in future years. Towns said he felt he earned a paycheck, coming off a season where he averaged 20.1 points and 11.9 rebounds per game and was key to the Knicks winning an NBA title. Recently, Towns was asked if he thought he should be rewarded for his role in leading the Knicks to a championship..
“No shit, Sherlock.”
This decision by the Knicks management kicks off the future, but the problem does not go away. By the start of the 2028-29 season, there will most likely be a Jalen Brunson extension — don’t expect him to get a $113 million discount again — as well as Towns and Hart extensions, and an OG Anunoby extension could start this season. Paying them all market rate and keeping this team together will be nearly impossible.
The Knicks just don’t want everyone talking about this on Oct. 20, when they raise their first championship banner in 53 years and Adam Silver hands out championship rings. You can watch this ceremony on NBC and Peacock starting at 6:30 p.m. Eastern time, followed by the game at 7 p.m. This is part of an Opening Day triple header featuring the Celtics at Pistons (3 p.m. ET), LeBron James and the 76ers trying to spoil the Knicks’ ring night, then capped off by Thunder at Spurs and Victor Wembanyama (9:30 p.m. ET).
Gn sports
