Knicks put Towns and Hart extension talks on hold until 'later in the season'

The New York Knicks have shelved contract extension talks with Karl-Anthony Towns and Josh Hart, telling two key players from their title team that new deals will have to wait until the defense of that title is underway.

In a statement Friday, Oct. 9, a team spokesperson said the organization's "entire focus" is on preparing for the upcoming season and that the Knicks will not negotiate extensions "until later in the season," ESPN reported. amNewYork, which reported on the fallout Sunday, carried the same statement.

Who is affected

The pause applies to four players who are eligible for extensions: Towns, Hart and guards Miles McBride and Tyler Kolek, according to NBC Sports. The deadline to sign extensions is June 30, 2027. Jalen Brunson and OG Anunoby become eligible next offseason, ESPN reported.

The money

Towns, a six-time All-Star, is due $57 million this season and holds a $61.1 million player option for 2027-28. He is eligible for a four-year extension worth more than $276 million, and the Knicks' most recent offer was about $200 million over four years, ESPN reported, citing sources. Towns said Monday that nothing that would keep the team together while also valuing him had "come close to happening."

Hart will make $20.9 million this season, and the team holds a $22.3 million option on him for 2027-28, according to ESPN. At media day last month, Hart said there had not been much movement and that he did not think a deal would get done.

The second apron

Behind the standoff is the NBA's second apron, a payroll line introduced in the 2023 collective bargaining agreement that limits trades and roster-building tools for teams that cross it. Dolan has said going over it would be "suicidal," amNewYork reported. The Knicks already let backup center Mitchell Robinson, their longest-tenured player, sign with the Boston Celtics this offseason, according to ESPN.

Both players struck a calm tone online after the announcement. Towns posted "Always Love" on X, and Hart posted "NY," NBC Sports noted.

What's next

Pausing the talks does not end them. The sides have the rest of the season, and next offseason, to reach agreements before Towns' player option and Hart's team option come into play, amNewYork reported.

The Knicks open the season Oct. 20 at Madison Square Garden, where they will raise their first championship banner in 53 years before hosting the 76ers. NBC and Peacock carry the ring ceremony starting at 6:30 p.m., followed by the 7 p.m. game, according to NBC Sports.