Oct 10, 2026 7:13 PM
The latest on the New York Knicks and contract extensions.
The New York Knicks had a quiet offseason after winning the NBA championship, but the final weeks before the start of the regular season have been rooted in turmoil.
Knicks owner James Dolan has said that he doesn’t want to go into the second apron, even if it means keeping the championship team together, which has put a cap on contract extensions with two starters.
Karl-Anthony Towns and Josh Hart are both eligible for an extension this offseason.
Towns has a player option worth $61 million that will be decided upon next offseason, while Hart has a $22 million team option next season.
With little progress being made on possible extensions this offseason, the Knicks are tabling contract extension negotiations, saying, "As an organization, our entire focus is on 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.”
Vincent Carchietta-Imagn ImagesWhat Does It Mean?
Ian Begley of SNY stated that the decision to table extensions was done to eliminate distractions heading into the season. Begley noted that the Knicks like to operate in silence with their contract negotiations, but talks with Towns and Hart have been made public, with Towns addressing his extension by saying that he is willing to take a discount, but not as big of a discount as they are currently asking.
The Knicks’ offer reportedly started at $45 to $55 million. That’s over $5 million less than the player option that he can sign for next season.
Begley noted that the Knicks would have to consider trading Towns in January if progress is not made on an extension, as they don’t want to lose him for nothing in the offseason.
Will It Work?
Putting out the statement that extension talk has been tabled may calm distractions for the time being, but as the season rolls on, and there is a risk of Towns and Hart leaving for nothing, there will be chatter about the extensions or possible trades.
Hart, Towns, and the team won’t be asked about contract talk for the first couple of months, but if the Knicks get off to a poor start or there’s been no real progress heading into January and the trade deadline, talks will pick up about potential trades, and other teams will no doubt be calling.
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