Towns reportedly seeks $225-240 million from the Knicks, and rival offices project $20 million-plus a year for Anthony Black

Karl-Anthony Towns is seeking a four-year extension in the $225-240 million range from the Knicks, who are offering around $200 million over four seasons, Brett Siegel reports. Towns, eligible for a $276 million maximum, said this week he would take less than the max to keep the Knicks’ championship core together. Many people around the league expect the two sides to work out a new deal, Siegel adds, but if they do not, Towns is expected to decline his $61 million player option for 2027-28 and become a free agent next summer.

Rival front offices believe Magic guard Anthony Black will command more than $20 million per year as a restricted free agent in 2027, Siegel reports, and Orlando’s rookie-scale extension offer before Monday’s deadline “didn’t come close” to that figure. Magic president of basketball operations Jeff Weltman called the talks “substantive” this week while acknowledging no agreement was reached. Opposing teams are keeping a close eye on Orlando’s expensive payroll, particularly maximum-salary forwards Paolo Banchero and Franz Wagner.