Shams Charania reported that Karl-Anthony Towns rejected the Knicks' initial extension offer, stalling talks. Brian Windhorst said Towns' $61 million option for next season would put New York in the second apron, a threshold owner James Dolan has ruled out.
Reports by SNY's Ian Begley and the New York Post's Stefan Bondy say the Knicks have asked Towns to accept $45 million to $50 million a year. He is eligible for a four-year extension worth $272 million to $276 million. Windhorst said he believes a deal can be reached, but Towns could get maximum offers if the Knicks force him onto the market.
The second apron was projected at $221.7 million; crossing it brings penalties including the loss of trade aggregation, cash considerations in deals and mid-level exceptions, as well as future draft-pick freezes. The article says the sides have until June 30, 2027, to resolve the matter before Towns faces his player-option decision.
