During the final weeks of the NBA preseason, New York Knicks big man Karl-Anthony Towns made it clear that he hoped to get a contract extension done before the regular season began. However, that simply wasn’t the case.
The Knicks and Towns didn’t see eye to eye on how much of a pay cut he would be willing to take. The NBA champion center has made it clear that he wants to remain in New York.
“I've made it known I want to play here; I've been a fan since I was young. I would like to get one done, of course. Get it done so I can step on the court and feel as comfortable as possible," Towns said.
It was the Knicks' decision to pause all contract talks until later in the season to limit distractions. The organization released a statement regarding the negotiations.
“As an organization, our entire focus is on preparing for the upcoming season and delivering another year for our fans to be proud of. As a result, we will not be negotiating contract extensions until later in the season and will remain solely focused on preparing for the start of the season," a Knicks spokesperson told ESPN's Shams Charania.
It has now been revealed that Towns is seeking an extension worth between $225 million and $240 million.
“The word on the street over the last few weeks is that Towns wants something in the $225-240 million range on a four-year extension… When asked about not receiving an extension, Towns was upset, but he made it clear that it is just business,” NBA insider Brett Siegel wrote.
A deal somewhere in the $225 million to $230 million range would not be unreasonable for a player of Towns' caliber. The center has already indicated that he would be willing to take a pay cut to get the right deal done.
New York likely isn't going to offer him the full $240 million, but the lower end of his reported asking range could be a reasonable starting point for negotiations. It also helps explain why Towns was reportedly infuriated by an offer of just $200 million.
