Knicks and Karl-Anthony Towns Stall in Contract Extension Talks
Shams Charania reports negotiations have stalled and a deal is unlikely before camp; Towns holds a $61m player option and could test free agency next summer.
Talks between the Knicks and Karl-Anthony Towns on a new contract have stalled, and the sides are unlikely to agree a deal before training camp opens, according to insider Shams Charania.
"Negotiations have stalled. All offseason both sides were actively discussing a new contract, and I was told they were constructive. Lately, however, there has been no progress. Towns has a player option for next season worth $61m. That means next summer he could become a free agent and join one of roughly eight teams that will have space under the salary cap. Several of them could potentially need a centre. At the same time, the Knicks have the whole season to extend Towns. They can return to these talks later," Charania said.
Towns is eligible for a maximum four-year extension worth slightly more than $270m.
One of the key factors in the talks remains the position of Knicks owner James Dolan, who has said publicly that the team does not intend to cross the second tax apron, Charania noted.
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