Karl-Anthony Towns and the Knicks are far apart on an extension: 'It don't look good'

Karl-Anthony Towns does not expect a new contract with the New York Knicks before the regular season starts. "It don't look good," the center said on Monday, Oct. 5, the day the defending champions played their first preseason game. According to ESPN's Shams Charania, the Knicks' most recent offer is a four-year deal worth about $200 million, well short of the four-year, roughly $276 million maximum Towns is eligible to sign.

How far apart are Towns and the Knicks?

The gap is roughly $76 million over four years. Owner James Dolan has said New York will not go above the league's second salary apron, and a max deal for Towns would push the payroll toward that line. The same budget limit already cost the Knicks backup center Mitchell Robinson, who left for the Boston Celtics this summer; New York signed veteran Andre Drummond to take his place, as The Athletic noted on NBA.com.

Towns, a six-time All-Star, said he wants a deal that keeps the core together and still values him, and that nothing on the table has come close to that. Asked whether winning the title should earn him a reward, he answered with a profanity-laced yes.

What did Towns do in the Knicks' title run?

ESPN credits Towns with averages of 15.9 points, 10.6 boards and 4.9 assists during last season's run, in which New York beat the San Antonio Spurs in a five-game Finals and ended a 53-year championship drought. ESPN's Ben Golliver argued that his spacing and his defense on Victor Wembanyama made him central to the title, while Zach Kram pointed out that he ranked third on the team in playoff scoring behind Jalen Brunson and OG Anunoby, with a usage rate near the league average. Towns turns 31 next month.

What happens if there is no deal by Oct. 19?

Oct. 19 is the last day to sign an extension before the season, but it is not a hard end to talks. Because Towns is in what is technically the final year of his contract, he stays eligible for a four-year extension through June 30, ESPN's Bobby Marks explained. Without a deal, his options next summer would include:

• Opting in at $61 million for 2027-28 and signing a new contract that starts in 2028-29.
• Declining the option and signing a new, longer deal with New York at a lower first-year salary.
• Testing free agency, where Marks lists eight teams with projected cap space.
• Working out a sign-and-trade.
• Opting in and asking for a trade.

Marks' preferred route for Towns is the first one: opt in, then sign a four-year extension of about $180 million starting in 2028-29. He calculated that it would secure more guaranteed money than declining the option, while keeping the Knicks under the second apron.

For now, both sides are publicly saying the same thing: Towns wants to stay, the Knicks want him, and the price is the problem.