Knicks Table Extension Negotiations for Karl-Anthony Towns and Josh Hart

The New York Knicks have paused contract extension discussions with Karl-Anthony Towns and Josh Hart until later in the season.

The New York Knicks announced Friday that the franchise has tabled contract extension negotiations with Karl-Anthony Towns and Josh Hart. According to ESPN, the organization is shifting its focus toward season preparations rather than long-term deals. Towns is currently eligible for a four-year extension exceeding $276 million, but sources told Shams Charania that the team’s most recent offer was approximately $200 million over four years.

Towns is scheduled to earn $57 million this season and holds a $61.1 million player option for the 2025-26 campaign. The six-time All-Star expressed frustration on Monday, stating that recent discussions have not come close to valuing him or keeping the roster intact. During New York’s five-game Finals victory over the San Antonio Spurs last season, Towns averaged 15.9 points, 10.6 rebounds, and 4.9 assists per game.

Josh Hart is also eligible for an extension, with a $20.9 million salary set for this year and a $22.3 million team option for 2027-28. While Jalen Brunson and OG Anunoby will become eligible for new deals next offseason, owner James Dolan has stated the team will not enter the second spending apron. This financial restriction already impacted the roster this summer, as longest-tenured Knick Mitchell Robinson signed with the Boston Celtics after New York declined to re-sign the backup center.