May 29, 2025; New York, New York, USA; New York Knicks center Karl-Anthony Towns (32) dunks against Indiana Pacers forward Jarace Walker (5) in the fourth quarter during game five of the eastern conference finals for the 2025 NBA Playoffs at Madison Square Garden. Mandatory Credit: Brad Penner-Imagn Images Brad Penner-Imagn Images

Insider Explains Why Knicks Star Might Not Sign Extension

Originally posted on New York Knicks on SI
By Geoff Magliocchetti | Last updated Aug 19, 2025 5:00 PM ET

The New York Knicks aren't ready to dish out some expensive KAT-nip quite yet.

Several of New York's franchise faces have sizable paydays over the last few seasons, with Mikal Bridges being the latest to enter the well-paid brotherhood this summer. Karl-Anthony Towns is line to be next as the one-year anniversary of his late offseason arrival approaches but there has been no movement on such a deal leading into a late October deadline.

Insider Stefan Bondy of the New York Post offered the KAT contingent some assurances that the presumed lack of deal is no cause for concern, hinting that he's likely to stick around in Manhattan for at least three more tours.

Karl-Anthony Towns Trevor Ruszkowski-Imagn Images

"Towns still has two guaranteed years left on his contract, and there’s a decent chance he’ll play out the third on a $61 million player option. There’s no rush, in other words," Bondy said. "Towns’ salary is so high that his extension max is two years, $150 million. Towns is a unique talent, but not among the 10 players worthy of $75 million average salary in the apron era."

New York has written big checks for Bridges, OG Anunoby, and captain Jalen Brunson without falling into the restrictive second salary apron, a fate that forced the rival Boston Celtics to ship off several familiar friends from their most recent championship run, including ex-Knicks franchise face Kristaps Porzingis.

Towns had a magnificent maiden metropolitan voyage, averaging 24.4 points and a career-best 12.8 rebounds en route to the Knicks' first Eastern Conference Finals showing since 2000. He reached his fifth All-Star Game and earning starting honors in the exhibition for the first time.

The time away from an extension, Bondy says, will give the Knicks to get full clarity on the Towns era, answering potential issues such as his health, defense, and official position. Even with Towns' sterling debut, anyone involved with the Knicks will watch Towns' progress closely considering it led to the relative breakup of a consistent core, as Donte DiVincenzo and Julius Randle were sent Midwest for his services.

This article first appeared on New York Knicks on SI and was syndicated with permission.

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