Karl-Anthony Towns was a massive factor in the New York Knicks winning the 2026 NBA championship, but as has been the case for the past year, his future with the team remains uncertain, as the All-Star center has yet to sign a contract extension despite being eligible to do so since last summer.
Towns’ name was mentioned in Knicks trade rumors for Giannis Antetokounmpo, but after not being moved at the deadline, he helped deliver a title to New York alongside Jalen Brunson, OG Anunoby, and the rest of the roster.
Still, with the Knicks now looking for more financial flexibility moving forward, as seen with their offseason moves, a Towns contract extension continues to loom over the team, and as one former NBA player put it, there’s one obvious move the center should make, which is a lot easier said than done.
Ex-NBA Player Warns Of Karl-Anthony Towns Contract Extension With Knicks
GettyNEW YORK, NEW YORK – JUNE 18: Karl-Anthony Towns #32 of the New York Knicks looks on during the New York Knicks Championship ticker tape parade and victory rally celebrating winning the 2026 NBA Finals on June 18, 2026 in New York City. The New York Knicks defeated the San Antonio Spurs in five games to win their first NBA Championship in 53 years. (Photo by Angelina Katsanis/Getty Images)
Speaking on the To The Baha podcast, former NBA forward Charlie Villanueva urged Towns to take a pay cut on his contract extension, citing Brunson doing the same and giving the Knicks more flexibility on holding on to their title-contending roster moving forward.
“KAT, it’s your turn (to take a pay cut), JB did it, right? He set the tone, he set the bar. It’s your turn,” the ex-player said. “Come on, he okay. Take 50 a year. Take 45. JB took a hit so we could win this chip. Let’s keep the group together, guys; it’s your turn now. I did my part. Karl, that’s what I would do.”
Towns is eligible to sign a new contract extension for four-years, $272 million.
While he played a big role in the Knicks’ title run, his landing a deal that massive feels unlikely. Though an All-Star-caliber player, Towns had a few disappointing outings in the playoffs and NBA Finals, and despite some strong performances guarding Victor Wembanyama, his impact on the defensive end of the floor remains arguably his biggest weakness.
Still, signs point to Towns and the Knicks agreeing to a contract extension on some level, with an average annual salary likely closer to a $50-$60 million mark instead of the $68 million he’s eligible to sign.
Brunson took a pay cut previously, but is now expected to become one of the NBA’s highest-paid players whenever he inks a new deal with the franchise. After he sacrificed for the Knicks, Villanueva is now just one of many suggesting Towns should do the same, with New York already reaching the peak of the mountain after hoisting the Larry O’Brien trophy this season.
Expert’s Thoughts On A New KAT Deal
GettySAN ANTONIO, TEXAS – JUNE 13: Karl-Anthony Towns #32 of the New York Knicks drives to the basket against De’aaron Fox #4 of the San Antonio Spurs during the fourth quarter in Game Five of the 2026 NBA Finals at Frost Bank Center on June 13, 2026 in San Antonio, Texas.
Writing for The Athletic, Knicks reporter James L. Edwards discussed where a Towns contract extension with New York stands in early August. While also laying out the pros and cons for the Knicks re-signing the now-champion center, Edwards made it clear he believes the two sides will continue their relationship.
“One thing I’m certain of is that New York’s decision-makers will offer Towns an extension,” he wrote. “What I’m not certain of, and don’t expect, is whether the cash-conscious Knicks will offer him a max contract.
Towns is in the final guaranteed year of his current contract, set to earn $57 million in 2026-27 and with a player option for $61 million in 2027-28. He’s been eligible to sign a new deal for over a year, but after the Knicks now look like they are trying to save money after winning the title, Towns might not be in line for the most amount of money possible.
“Since president Leon Rose took over, he and his staff have routinely put themselves in a position to pivot, whether by being financially smart or stockpiling draft picks to make a move,” Edwards added. “This, in my opinion, will ultimately be the biggest factor if New York’s brass doesn’t offer Towns the max extension.”
While a Towns contract extension has been on the table for over a year, he and the Knicks have yet to agree on a new deal. Until he signs with the team, regardless of the number, the big man’s name could remain in trade rumors, as despite the new championship, that’s been the case since he arrived in New York almost two years ago.
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