The New York Knicks were unable to get a contract extension done with Karl-Anthony Towns in the offseason, and now the team enters the season with Towns potentially in the last year of his deal.

He has a player option worth $62 million that he can either pick up next offseason to remain with the team, or decline to become an unrestricted free agent.

Instead of negotiating into the early part of the season, the Knicks put out a statement that they are tabling negotiations with Towns and Josh Hart, who is also up for an extension, until a later date.

The statement read, "As an organization, our entire focus is preparing for the upcoming season and delivering another year for our fans to be proud of. As a result, we will not be negotiating contract extensions until later in the season and will remain solely focused on preparing for the start of the season.”

Speaking to the media, Towns said about the statement, "It was news to me. Very disappointed to say the least. Let's state the obvious. It's business, but there is business on the court for us to handle.”

Towns was acquired by the Knicks ahead of the 2024-25 season from the Minnesota Timberwolves in exchange for Julius Randle and Donte DiVincenzo.

In his two seasons with the Knicks, the team has made back-to-back Conference Finals, and won the championship this past season.

The decision to table negotiations to focus on basketball is one that makes sense for the time being, but could become an issue as the season goes on, especially in the case of Towns.

Since Towns has a player option in the offseason, he holds a decent amount of leverage when it comes to a deal. If the Knicks feel they won’t be able to sign him to an extension, it’s possible they explore trades for the sharp-shooting big man in January and up until the trade deadline.

If the Knicks decide to keep Towns, but he’s not satisfied with the offer being made, he can always exercise his option and bring in $62 million next season before hitting unrestricted free agency in 2028.

As long as the Knicks are playing well and come out of the gates strong in defense of their championship, their decision to table negotiations won’t be questioned.

If the team gets off to a slow start, or Towns doesn’t look like the player fans saw in their 2026 playoff run, questions will loom, and there will be a black cloud hanging over the franchise until a move, whether it’s a new deal or a trade, is made.