Karl-Anthony Towns' Rumored Contract Offer Revealed After Knicks Star Says Deal Isn't 'Close'

New York Knicks star Karl-Anthony Towns all but confirmed an earlier report that contract negotiations between he and the team haven't progressed much, with details of the team's offer also surfacing.

Stefan Bondy of the New York Post reported that the Knicks have offered a contract around $200 million, which would be $77 million below a max deal.

That news comes after Towns outlined what he wants on his new deal and said "none of those things are close to happening." When asked if he thought it'd be easy to get a deal done after a championship run, Towns responded (via James L. Edwards III of The Athletic), 'No s--t, Sherlock.'

The six-time All-Star has a $61 million player option for 2027-28. He'll presumably decline that in pursuit of a far bigger overall payout.

Towns can re-sign for up to $276 million over four years with the Knicks. The Athletic's James L. Edwards III reported on Sept. 23 that New York won't put a full max on the table. In addition, the respective parties "are far enough apart now" that a resolution could drag into the regular season.

According to Stefan Bondy of the New York Post, the team is prepared to pay "around $200 million" on a four-year deal.

Knicks star Jalen Brunson left a significant amount of money on the table when he signed a four-year, $156.5 million extension. That was intended to give the front office more salary cap flexibility and perhaps entice others to take less than the max.

On the heels of New York's NBA Finals triumph, the priorities for those on the roster may have shifted a bit. Towns, for example, captured the title that serves as validation after people questioned his role on a team with championship aspirations.

"I've made it known I want to play here," KAT said during the Knicks' media day. "I've been a fan since I was a kid. I'd like to get it done and step on the floor and feel as comfortable as possible."

But the 30-year-old also knows his value may never be higher than it will be in 2027. His remarks from Monday are certainly telling.

The Knicks, meanwhile, have to bake another Brunson extension into their financial projections for the future.

"Obviously we'd love for them to do right by me," he told Tom Kludt of Vanity Fair for a story published this past February. "I think anyone would. I feel like I sacrificed."

The Athletic's Fred Katz reported last week that "all signs point to the NBA Finals MVP earning a significant raise — a projected $290 million over four years." Having his average salary climb from $39.1 million to more than $70 million would have massive consequences for the Knicks.

That's why negotiations with Towns have been and may continue to be tense. Assuming Brunson will pocket the max or something close to it in a few years, Knicks president Leon Rose will need to be very purposeful with the budget with that in mind.