Sources: Extension talks between Knicks, Towns at standstill

Talks have stagnated between the New York Knicks and Karl-Anthony Towns on a contract extension, and an agreement is considered unlikely as the team begins training camp next week, sources told ESPN on Wednesday.

The sides have spent extensive time discussing a potential extension during the offseason but there has been no movement lately in negotiations, sources said, as the Knicks stand to go for a repeat following their first NBA title in 53 years.

Towns, who will turn 31 in mid-November, is eligible to receive a contract extension for up to four years and $273 million, according to ESPN's Bobby Marks.

An All-Star in his two seasons in New York, Towns averaged 15.9 points, 10.6 rebounds and 4.9 assists on 55% shooting through last season's playoffs, helping the Knicks to a 16-3 mark as they defeated the San Antonio Spurs in five games in the NBA Finals.

Knicks owner James Dolan has repeatedly said he wanted to keep the Knicks out of the punitive second apron. Valuable backup center Mitchell Robinson was one of the casualties of the edict, as he signed with the Boston Celtics this offseason.

Towns is due $57 million this season and has a $61 million player option for 2027-28. As it stands, the Knicks and Towns could come to an agreement at any point this season, but it is not imminent and appears unlikely in the short-term.

The Knicks have many looming contract decisions over the next several months. Swingman Josh Hart is eligible for a contract extension as well, while Jalen Brunson and OG Anunoby will be eligible for contract extensions next offseason.