Towns Anticipates No Extension Deal With Knicks Before Season

WHO:

Fox News - Karl-Anthony Towns, New York Knicks, Jalen Brunson, James Dolan

RealGM Basketball - Karl-Anthony Towns, CAA (his representation), Leon Rose (Knicks lead executive)

WHAT:

Fox News - Karl-Anthony Towns is under contract through the 2027-28 season and is eligible for a four-year, $277 million extension.

Fox News - The Knicks have offered Towns a four-year deal worth approximately $200 million.

RealGM Basketball - Towns does not expect to sign a contract extension before the regular season begins.

RealGM Basketball - Towns is eligible to sign up to a four-year, $276 million extension and holds a $61 million player option for the next season.

RealGM Basketball - The Knicks' offer is in the $45 million to $50 million per year range.

WHERE:

Fox News - The Knicks' preseason game is in Philadelphia.

Fox News - Towns interacted with fans during the New York Knicks 2026 Championship Parade and Ceremony in New York City.

WHEN:

Fox News - The Knicks' season is set to begin on October 20.

Fox News - Towns is eligible to sign an extension until June.

WHY:

Fox News - Towns wants to keep the team together and work with the Knicks while also being valued.

RealGM Basketball - The Knicks are near the second apron and owner James Dolan does not want to cross it under any circumstance.

HOW:

Fox News - Towns expressed his willingness to take a discount but wants compensation that reflects his contributions.

RealGM Basketball - Towns stated he approaches the current moments and lets it go where it goes regarding separating basketball from business.

(UPDATED October 5, 2026 19:09 UTC)

Karl-Anthony Towns is currently under contract with the New York Knicks through the 2027-28 season and is eligible for a lucrative extension worth up to $276 million, but he does not expect to sign anything before the season kicks off on October 20. The Knicks have offered him a four-year deal valued at around $200 million, which translates to about $45 million to $50 million per year, but owner James Dolan is cautious about crossing the salary cap's second apron. Towns has expressed a desire to keep the team together while also wanting to be compensated fairly for his contributions, indicating he’s open to a discount but wants to feel valued in the process.