Karl-Anthony Towns confirms he's willing to take less money from Knicks amid halted contract extension talks

Karl-Anthony Towns and the New York Knicks will begin the 2026-27 season on Tuesday night when they receive their championship rings before facing off against the new-look Philadelphia 76ers. 

While Tuesday will be a celebration of last year's title, it will also be a reminder of what the Knicks are putting at risk after publicly pausing all contract extension talks with Karl-Anthony Towns, Josh Hart, Deuce McBride and Tyler Kolek prior to the season starting. Towns was the first player the Knicks tried to get a deal done with, but the two parties couldn't bridge the gap between their asking prices before New York abruptly ended negotiations. 

Karl-Anthony Towns contract: What to know as Knicks enter season with question marks

Sam Quinn

Towns spoke earlier in the month about his frustrations with the negotiations, noting he wanted to work out something to "keep the team together" while also valuing himself. Ahead of Tuesday's opener, Towns sat down with ESPN alongside Jalen Brunson -- who famously took much less than the max in his last deal -- and confirmed he is absolutely willing to take less than max money from New York in his next deal. 

"Oh yeah, because I want this team to stay together," Towns said. "That's always been my main priority -- was to keep everyone here, to keep this core, this special team that we have. So it was the first thing on my mind as soon as it was. And there was nowhere in my mind a max was even thought of." 

Brunson said for his part that he hopes Towns signs the contract, but what the Knicks reportedly offered -- four years, $200 million -- would be more than a $70 million discount off Towns' max. Most have anticipated the two sides agreeing to something in the $225-240 million range, but by suspending talks until an undisclosed later date, the Knicks are shortening the window they have to get a deal done and avoid a scenario where Towns grows frustrated enough to decline his player option and test unrestricted free agency, where he would almost assuredly get bigger offers. 

As Towns noted, his desire is to keep the team together and keep chasing titles, but Knicks owner James Dolan has put the onus on the players to sacrifice rather than on himself by refusing to even consider crossing into the second apron. 

The Knicks seem determined to set a precedent with Towns' negotiations. Towns, meanwhile, must confront the internal turmoil of wanting to stay in New York with his teammates while recognizing this is perhaps the last big deal of his career and the opportunity to maximize his value. 

While he's willing to take less than the max, Towns may have a specific number in mind as his minimum asking price, and the Knicks have yet to show they'll reach it, adding some tension to the 2026-27 season.