The New York Knicks have paused all contract extension negotiations until later in the season, putting discussions involving Karl-Anthony Towns, Josh Hart, Miles McBride and Tyler Kolek on hold as they prepare to defend their NBA title.
The team announced the decision on Friday, 9 October, saying its immediate priority was preparing for the upcoming season. The pause formalises what had already become apparent in Towns’ negotiations: a new deal was unlikely before opening night. It also extends beyond the All-Star centre to every extension-eligible player on the roster.
A team spokesperson told ESPN’s Shams Charania that New York would not negotiate extensions until “later in the season”. SNY independently reported the announcement, identifying all four eligible players.
The Knicks did not specify when discussions would resume. Importantly, the delay does not close the extension window — but it changes how some deals could be structured.
A team-wide pause, not just a Towns impasse
Towns had already publicly expressed doubt that an agreement would arrive before the regular season, as covered in Buckets’ earlier report on his stalled extension talks.
ESPN reported that New York’s latest offer was approximately US$200 million over four years, compared with a projected maximum extension worth about US$276 million. Those are reported negotiating figures, not terms confirmed by the team’s announcement.
Friday’s development is therefore more than another update on the distance between Towns and the Knicks. New York has made a formal, organisation-wide decision to stop negotiating for now.
Hart had also indicated at training camp that his discussions had made little progress, according to USA Today. McBride and Kolek are covered by the same pause, even though their situations have attracted less attention.
Why the contract calendar matters
The four players do not face identical decisions:
- Towns holds a player option for 2027–28, worth approximately US$61 million. He could become a free agent next summer if he declines it.
- Hart has a team option for 2027–28, giving New York a route to retain him without first agreeing to an extension.
- McBride is on an expiring contract and is set to become an unrestricted free agent next summer without a new deal.
- Kolek also has a team option for 2027–28.
All four can remain extension-eligible through 30 June 2027, but the 19 October deadline creates an important distinction.
As Hoops Rumors explains, players with multiple seasons remaining generally cannot sign veteran extensions during the regular season. For Towns, Hart and Kolek to sign an in-season extension after that deadline, their 2027–28 options would need to be declined as part of the agreement, with the new deal replacing the option year. McBride’s expiring contract allows an extension during the season without that complication.
Waiting therefore leaves negotiations possible, rather than forcing every decision into free agency. It does, however, remove a pre-season opportunity to settle those option-year questions.
What the announcement does — and does not — establish
The confirmed development is a pause in negotiations, not a decision to move any player. The statement does not establish a trade plan or rule out eventual extensions.
New York will begin its title defence with those longer-term contracts unresolved. The next meaningful update will be when talks reopen — and whether the sides can then turn eligibility into an agreement.
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