The New York Knicks continue to deliver a master class in bungling how to handle a roster and financial decisions in the wake of an NBA championship, as the team put the final stroke on what may, in the end, be a death knell for the roster as we know it. The Knicks won their first title in 53 years in June, and already, owner James Dolan’s edict that the team stay below the dreaded second apron is threatening to derail the season and split the team asunder.
On Friday, the Knicks took the bizarre step of issuing a statement saying that the team won’t keep entertaining negotiations for new contracts with its eligible players. That includes stars Karl-Anthony Towns and Josh Hart, as well as bench pieces Miles McBride and Tyler Kolek.
Knicks Shutting Down Extension Talks
The statement from the Knicks, as shared by SNY’s Ian Begley, read: “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.”
The organization was clearly not comfortable with the daily chatter about extensions for its current players, and hoped to turn attention back to basketball on the floor. But in doing so, they’ve only created another layer of intrigue around the situation, and made themselves look more obstinate in rewarding the players who did the actual work of winning the Larry O’Brien trophy.
Karl-Anthony Towns Would Cough Up $61 Million Option
But there is a quirk in the extension rules here that might get lost in the shuffle, and should not. As James Edwards of The Athletic points out, if the Knicks do not get an extension done by the opening of the season on October 19, it affects the option years for Towns and Hart. That’s especially consequential for Towns, who has a $61 million player option in 2027-28. (Hart’s is a team option.)
Wrote Edwards: “One wrinkle to watch that could impact a lot: KAT would have to decline his $61 million player option to be eligible to talk extension in season, and it’s clear he’s not happy with the situation.”
Towns would have to turn down that option to negotiate a new deal, and why would he possibly want to do that? The $61 million is a bit of an insurance policy. The Knicks are again forcing him into a situation he does not want to be in. Strange way to act toward a guy who was critical in ending the championship drought.
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