Karl-Anthony Towns entered the offseason with a championship, a strong case for a major extension and a clear desire to remain in New York. But as the Knicks and their star continue to work toward a new deal, the optimism surrounding his future has started to fade.

Towns has made it clear that he is willing to work with the Knicks to keep the championship core together, but he also wants to feel valued in the process. With the regular season approaching, the two sides still have not found common ground.

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.”

The reported gap is significant. Towns is eligible for a four-year extension projected at roughly $276 million, while Stefan Bondy of the New York Post reported that the Knicks have offered around $200 million over four years. That leaves roughly $76-77 million between the two figures.

Towns had just helped the Knicks win their first championship since 1973. He averaged 15.9 points, 10.6 rebounds and 4.9 assists over 19 playoff games as New York went 16-3 during its title run. Towns said, “I just won a championship. You’d think it was pretty easy. Unless you guys think I have something else to prove.”

Towns had averaged 20.1 points, 11.9 rebounds and 3.0 assists during the 2025-26 regular season while shooting 50.1% from the field, 36.8% from three and 85.8% from the free-throw line.

The Knicks also have to plan for Jalen Brunson’s next contract. Brunson is projected to be in line for a four-year extension worth roughly $290 million beginning in 2028-29, making his future salary a major part of New York’s long-term payroll planning.

A maximum Towns extension would make it harder for New York to keep its championship core together while also staying below the second apron. The Knicks are instead trying to find a number that gives them more room to deal with Brunson’s expected raise and other major contracts.

James Dolan has publicly prioritized keeping the Knicks below the second apron, which comes with significant roster-building restrictions and can limit a team’s flexibility. The team’s decision not to retain Mitchell Robinson has also been cited as part of that approach.

The Knicks Still Want Karl-Anthony Towns, But the Talks Have Changed

The Knicks have continued to express a desire to keep Towns long-term, but the sides have been far enough apart for the negotiations to carry into the regular season. Earlier reporting also placed discussions in the range of a $45-50 million starting salary.

A league source told The Athletic, “We want KAT to be here for a long time.”

Just days earlier, Towns had also made his own position clear. He said, “I’ve made it known I wanna play here… I’ve been a fan since I was young, so I would like to get one done, of course… so I can step on the court and feel as comfortable as possible.” He added, “In this situation, there’s no comfortability to be had.”

Now, the tone has changed. When asked about getting an extension done before the regular season, Towns said, “It don’t look good.”

The $200 million figure has not been confirmed by the Knicks, and there is no reporting that Towns has formally rejected the offer. The two sides can continue negotiating during the season, with the extension window remaining open into 2027.

At roughly $200 million over four years, the reported offer would average about $50 million per season. That lines up with earlier reporting that discussions had centered around a $45-50 million starting salary and would give New York more room to manage its payroll around Brunson and the rest of the core.

For now, the biggest question is whether the Knicks can find a number that keeps Towns in New York without giving up the financial flexibility they want around the rest of their championship core.