New Karl-Anthony Towns Rumors Reveal Big Gap in Knicks Contract Talks amid Pay Cut Buzz

The New York Knicks and All-Star center Karl-Anthony Towns reportedly remain far apart in contract negotiations with the start of the 2026-27 NBA regular season looming.

According to Fred Katz of The Athletic, Towns is eligible for a four-year, $276 million extension, but the Knicks want to pay him "much less" than that.

James Edwards of The Athletic (h/t Katz) added that the two sides are "far enough apart now, per multiple sources, that this could linger into the regular season."

Per Spotrac, Towns is set to make just north of $57 million this season, and he has a player option worth $61 million for next season.

Appearing Tuesday on NBA Today, ESPN's Malika Andrews reported that Towns is "willing to take a pay cut," but he believes the pay cut the Knicks are asking him to take currently is "unreasonable."

Knicks All-Star guard Jalen Brunson famously took far less than the five-year, $269.1 million extension he could have signed in 2024, opting instead to sign a four-year, $156.5 million deal.

While it sounds like Towns is willing to take less than he is worth to remain in New York and help the Knicks stay in championship contention, he and the Knicks have yet to meet in the middle.

The 30-year-old Towns arrived in New York in 2024 when the Knicks acquired him in a blockbuster trade with the Minnesota Timberwolves.

He has remained highly productive as part of the Knicks' star-studded lineup, averaging 22.2 points, 12.3 rebounds and 3.0 assists per game over his two seasons with the team.

Karl-Anthony Towns Top Play

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A six-time All-Star and three-time All-NBA selection, Towns was a key figure in the Knicks winning their first NBA championship since 1973 last season.

In 19 playoff games, Towns averaged 15.9 points on 55.1 percent shooting to go along with 10.6 rebounds, 4.9 assists, 1.3 blocks and 1.3 steals.

With the rest of the Knicks' core under contract through at least 2028, one can only assume the organization would like to get a deal done with Towns at some point in the near future in order to keep their window of contention open for at least the next two seasons.