The New York Knicks aren't giving Karl-Anthony Towns and Josh Hart the contract extensions they want any time soon.
The reigning NBA champions announced on Friday, Oct. 9, that they are pausing negotiations with all extension-eligible players until a later date in order to minimize distractions as the Knicks begin their title defense. The decision leaves Towns and Hart without long-term clarity after both publicly expressed a desire to remain with New York.
"As an organization, our entire focus is on preparing for the upcoming season and delivering another year for our fans to be proud of," a Knicks spokesperson said, according to multiple reports. "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."
What a contract extension pause means for the Knicks
Knicks owner James Dolan made clear after the team won its 2026 NBA championship that he had no desire to take the franchise's payroll into the second apron of the NBA's collective bargaining agreement. It's why New York allowed center Mitchell Robinson to leave for the Boston Celtics via free agency and only made moves around the margins of the roster this offseason.
But Towns and Hart have become a delicate challenge for the team's front office coming off that exhilarating title run. While cutting off extension talks is intended to eliminate distractions, it also risks alienating two key Knicks starters who are among the team's most popular players.
By delaying negotiations, the Knicks are ensuring the contract situations involving Towns and Hart remain a storyline throughout the season, especially if either becomes more vocal about his frustration with the process.
Which Knicks players are affected by contract extension pause?
The Knicks currently have four players eligible to receive a contract extension.
- Karl-Anthony Towns
- Josh Hart
- Miles McBride
- Tyler Kolek
Karl-Anthony Towns contract: Latest updates
Karl-Anthony Towns is entering the third season of a four-year, $220.4 million contract he signed with the Minnesota Timberwolves before being traded to the Knicks in October 2024. He is set to make a salary of more than $57 million for the 2026-27 NBA season. The final year of the deal includes a player option with a salary cap hit of more than $61 million.
Towns has been eligible to sign a four-year, $276 million contract extension this entire offseason. The team's latest offer, according to ESPN, was a four-year deal worth about $200 million.
After Oct. 19, Towns would have to decline his player option for the 2027-28 season in order to sign a contract extension with the Knicks, according to NBA reporter Keith Smith. Towns recently expressed frustration with the way negotiations have gone, despite offering to take less than the max like Knicks star Jalen Brunson did in 2024 to provide more salary cap flexibility.
"Simply put, I want to do something that can keep the team together and work with the Knicks and also values me," Towns told reporters earlier this week. "None of those things have come close to happening."
Josh Hart contract: Latest updates
Hart is entering the third season of a four-year contract worth more than $80 million. He is scheduled to earn $20.9 million in 2026-27, while the Knicks hold a $22.3 million team option for 2027-28.
Hart is extension eligible and also wants to stay in New York, but indicated no progress had been made at the start of training camp.
"There hasn't really been much movement and conversation with that, so I don't think it will get done," Hart told reporters last month. "I would love to get it done."
What's next for the Knicks?
The Knicks begin the 2026-27 NBA regular season against the Philadelphia 76ers on Oct. 20. In addition to Hart and Towns, the franchise also must consider that Jalen Brunson and OG Anunoby become extension-eligible next offseason. If Dolan stands by his promise not to enter the second apron, keeping the core of last year's championship roster intact beyond the 2026-27 season will become increasingly difficult.
This article originally appeared on USA TODAY: Karl-Anthony Towns, Josh Hart in contract limbo after Knicks talks paused
