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Karl-Anthony Towns expected to sign contract extension with Knicks

Yahoo Sports • 1 min read • Latest: Aug 11, 2026, 6:30 AM

Last updated Aug 11, 2026

Karl-Anthony Towns expected to sign contract extension with Knicks

Summary

Karl-Anthony Towns is likely to remain with the New York Knicks, although he will not receive a $272 million supermax contract extension. Towns played a key role in the Knicks' recent NBA championship victory, showcasing elite defensive skills in the finals. Despite potential offers from other teams, a contract extension valued at approximately $45 million per year is anticipated, as both Towns and the Knicks have mutual interests in continuing their partnership. The decision comes amid the constraints of the NBA salary cap, making a team-friendly deal more appealing for Towns.

Source Links

Yahoo Sports

By the Numbers

•Towns contributed significantly to the Knicks' first championship in 53 years.
•He is currently under a contract with a $57 million salary for this season.
•The Knicks may offer Towns a $45 million per year extension.
•Staying with the Knicks appears to be a safer option for Towns financially.
•The team risks losing a key player if an agreement isn't reached.

Latest Updates

6:30 AMYahoo Sports — New York Knicks reporter expects Karl-Anthony Towns to sign $45 million contract extension

What they're saying

"
Despite not getting the $272 million supermax contract extension from the New York Knicks, Karl-Anthony Towns is likely to stay with the team. Towns was instrumental in helping the Knicks win their first NBA championship in 53 years, playing elite defense against Victor Wembanyama throughout the NBA Finals.
— Yahoo Sports

Related Teams & Leagues

New York Knicks NBA Basketball