New York Knicks Put Extension Talks with Karl-Anthony Towns and Three Others on Hold Until Later in Season

The New York Knicks front office has officially decided to put all contract extension talks on hold until later in the 2026-27 season. Four players on the roster—Karl-Anthony Towns, Josh Hart, Miles McBride, and Tyler Kolek—are eligible to sign new extensions ahead of the June 30 deadline.

"As an organization, our entire focus is on preparing for the upcoming season and giving our fans another year they can be proud of," a team spokesperson told ESPN's Shams Charania. "Consequently, we will not negotiate any contract extensions until later in the season and remain fully locked in on the start of the campaign," the spokesperson added.

According to ESPN front office insider Bobby Marks, the Knicks face no immediate time pressure to finalize deals, as league rules permit extensions to be completed through June 30.

Towns is undoubtedly the marquee name of the quartet. The six-time All-Star is guaranteed roughly $57.1 million for the 2026-27 campaign, alongside a player option for 2027-28 worth nearly $61 million. He is eligible for a four-year extension worth approximately $273 million.

SNY's Ian Begley previously reported that some distance remains between Towns' financial expectations and what the front office is willing to commit. The Knicks have reportedly discussed parameters where the star's starting annual salary would land in the $45 million to $50 million range.

Last season, the center averaged 20.1 points, 11.9 rebounds, and 3.0 assists across 75 regular-season games, before contributing 15.9 points, 10.6 rebounds, and 4.9 assists in 19 postseason appearances during New York's championship triumph.

Josh Hart and Miles McBride are also vital rotation pieces whose contractual futures could largely hinge on how the Towns situation unfolds. Hart recorded 12.0 points, 7.4 rebounds, and 4.8 assists in 66 games last season, while McBride posted 12.0 points, 2.4 rebounds, and 2.6 assists across 41 appearances. Guard Tyler Kolek saw action in 62 contests.