The Knicks said they’re shelving extension talks with eligible players until later in the 2026‑27 campaign, Newsday’s Steve Popper reported.
“Our whole organization is laser‑focused on gearing up for the next season and giving fans another proud year,” the statement read. “Consequently, we won’t negotiate extensions now and will concentrate solely on preseason preparation.”
Center Karl‑Anthony Towns, forward Josh Hart and guard Miles McBride are extension‑eligible, as is guard Tyler Kolek.
Towns revealed earlier this week his extension talks have hit a wall, telling reporters the gap between him and the Knicks was surprising after a championship run.
Reports suggest New York’s offer to Towns is a four‑year, $200 million deal. He’ll earn $57.1 million in 2026‑27 and holds a $61 million player option for ’27‑28, with a max extension projected at $276 million over four years. He’s willing to take less, yet no compromise materializes.
Hart is the other prime candidate for a new deal. At media day he said he’d rather lock in a contract soon, noting that prolonged standoffs can wear players down.
“Hopefully we can sort that out,” Hart said. “We know it’s business, and if things aren’t settled by February, the conversation changes.”
Hart is set to earn roughly $20.9 million this season, with the Knicks holding a $22.4 million option for the next year.
McBride and Kolek also qualify for extensions but are less likely to sign before the season. Kolek hasn’t cemented a regular rotation spot, while McBride could see a sizable raise on his $3.96 million salary after steady backcourt play. The Knicks’ comfort with such a raise remains uncertain.
Owner James Dolan’s push to stay out of the second tax apron complicates deals. The club already pays OG Anunoby, Jalen Brunson and Mikal Bridges a combined $113.7 million this year, a figure set to climb, and big contracts for Towns and Hart could push them over the apron even if McBride departs. For my money, avoiding the second apron is the smarter move.
Players with multiple years left can only sign veteran extensions by Oct. 19, while veterans on expiring deals stay eligible through the regular season until June 30, 2027.
Of the four eligible players, only McBride is on an expiring contract. Towns (player), Hart (team) and Kolek (team) each have 2027‑28 options that could be declined as part of an in‑season extension.
Delaying talks past Oct. 19 means those options can’t be folded into a new deal until the next offseason. For example, Towns could exercise his ’27‑28 option in June and then sign an extension in July, but a February extension would have to start in ’27‑28, replacing the option. Will the Knicks finally seal a long‑term deal with Towns before the tax apron looms?