Contract extension talks between Karl-Anthony Towns and the New York Knicks have stalled, making an agreement before training camp begins next week unlikely, according to multiple reports. Towns, 30, is eligible for an approximately $273 million, four-year extension after helping New York win its first NBA championship in 53 years. He is scheduled to earn $57 million this season and has a $61 million player option for 2027-28, which he could decline to enter free agency next summer. There is no immediate deadline, so negotiations can continue during the season. Towns averaged 15.9 points, 10.6 rebounds and 4.9 assists while shooting 55.1% in the postseason, as New York went 16-3 and defeated the San Antonio Spurs in five NBA Finals games. He has made the All-Star team in both seasons with New York since arriving from the Minnesota Timberwolves in an October 2024 trade. The Knicks are reportedly seeking a deal below the maximum to avoid crossing the NBA’s second luxury-tax apron, a payroll threshold that imposes significant roster-building restrictions. Owner James Dolan has said New York does not intend to cross it. The team also faces upcoming decisions on Josh Hart, Jalen Brunson and OG Anunoby, while Mikal Bridges signed a four-year, $150 million extension in 2025.