Karl-Anthony Towns Expects No Contract Extension Before Knicks Regular Season Begins

Karl-Anthony Towns stated Monday that a new deal with the Knicks 'don't look good' before the season opener as he seeks a $276 million contract.

Karl-Anthony Towns stated Monday that the chances of reaching a contract extension with the New York Knicks before the regular season "don't look good." While the six-time All-Star is eligible for a four-year deal worth more than $276 million, sources told ESPN’s Shams Charania that the Knicks’ most recent offer was a four-year agreement valued at approximately $200 million. Towns is currently scheduled to earn $57 million this season and holds a $61.1 million player option for the following year.

The contract impasse follows a championship season in which the Knicks defeated the San Antonio Spurs in a five-game Finals series to end a 53-year title drought. During that playoff run, Towns averaged 15.9 points, 10.6 rebounds, and 4.9 assists per game. Despite these contributions, Knicks owner James Dolan has indicated the organization will not exceed the second spending apron, a financial constraint that already saw longest-tenured Knick Mitchell Robinson depart for the Boston Celtics this offseason.

Towns expressed frustration with the current negotiations, noting that the team's proposals have not yet valued him or addressed his desire to keep the championship core together. New York is scheduled to begin its preseason schedule on Monday night as these discussions continue. Vincent Goodwill of ESPN contributed to these reports.