NEW YORK — The New York Knicks announced that they will no longer discuss contract extensions with players.
Karl-Anthony Towns, Josh Hart, Miles McBride and Tyler Kolek are eligible for extensions right now.
“As an organization, our entire focus is on preparing for the upcoming season and delivering another year for our fans to be proud of,” the Knicks said in a statement. “As a result, we will not be negotiating contract extensions until later in the season and will remain solely focused on preparing for the start of the season.”
The Knicks begin the regular season at home against the Philadelphia 76ers. They will raise their 2025-26 championship banner.
Knicks Have Offered KAT $200 Million
The Knicks, who won the championship last season against the San Antonio Spurs, have offered Towns $200 million, according to Stefan Bondy of the New York Post.
Towns is eligible for a $277 million extension.
Knicks owner James Dolan has repeatedly said he plans to stay out of the second apron.
Jalen Brunson and OG Anunoby will be eligible for extensions next offseason, while Towns, Hart, McBride and Kolek are eligible for new deals through June 30, 2027.
Towns Has Been Great With Knicks
New York acquired Towns from the Minnesota Timberwolves before the 2024-25 season.
Towns is averaging 22.2 points and 12.3 rebounds per game in the regular season and 18.6 points and 11.1 rebounds per game in the playoffs as a member of the Knicks.
A six-time All-Star, Towns made the All-NBA Third Team in his first season with the Knicks.
New York beat the Atlanta Hawks, 76ers and Cleveland Cavaliers to advance to the 2026 NBA Finals, a series Towns and Co. won in five games against San Antonio.
The 2015-16 Rookie of the Year with the Timberwolves, Towns has career averages of 22.8 points and 11.1 rebounds per game in the regular season and 18.7 points and 10.7 rebounds per game in the playoffs. He turns 31 in November.
KAT: ‘It Don’t Look Good’
Towns told reporters in Philadelphia on October 5 that he didn’t expect to sign an extension with the Knicks.
Towns will make $57.1 million this season. He has a player option worth $61 million for the 2027-28 campaign.
“It don’t look good,” Towns said. “Simply put, 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 was asked if he thought it would be easy to get an extension after helping the Knicks win the championship last season.
His answer was revealing.
“No s–t, Sherlock,” Towns said.
