The champion New York Knicks have put contract extension talks with Karl-Anthony Towns and Josh Hart on hold until later in the season. Towns is eligible for more than $276 million over four years. The team’s latest offer was reportedly about $200 million.
The New York Knicks are pausing all contract extension talks with Karl-Anthony Towns and Josh Hart, the team announced on Friday, October 9, according to ESPN.
The Team’s Statement
“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 team spokesperson said.
“As a result, we will not be negotiating contract extensions until later in the season.”
The Gap on Towns
| Amount | |
|---|---|
| Maximum extension Towns is eligible for (four years) | Over $276 million |
| Knicks’ latest offer (four years), per ESPN sources | About $200 million |
| Salary this season | $57 million |
| Player option for next season | $61.1 million |
Towns has been open about his frustration.
“Simply put, I want to do something that can keep the team together and work with the Knicks and also values me,” he said on Monday. “None of those things have come close to happening.”
What He Did Last Season
Towns, a six-time All-Star, was central to the Knicks’ championship run. He averaged 15.9 points, 10.6 rebounds and 4.9 assists in the playoffs, as New York beat the San Antonio Spurs in a five-game Finals.
The title ended a 53-year wait for the franchise.
Hart’s Situation
Hart will earn $20.9 million this season. The team holds an option for $22.3 million in 2027–28.
“There hasn’t really been much movement and conversation with that, so I don’t think it will get done,” he said at media day last month. “I would love to get it done.”
Why Money Is Tight
After the championship, owner James Dolan said the team would not go into the NBA’s “second apron”, the spending threshold above which the heaviest roster restrictions apply.
That means difficult choices. The Knicks did not re-sign backup centre Mitchell Robinson this offseason.
More decisions are coming. Jalen Brunson and OG Anunoby will both become eligible for extensions next offseason.
Image: Karl-Anthony Towns at the 2022 NBA All-Star weekend, when he played for Minnesota (file photo). Photo by Erik Drost via Wikimedia Commons, CC BY 2.0.
