The New York Knicks have put contract extension talks on hold as they prepare for the 2026-27 season. The pause includes Karl-Anthony Towns and Josh Hart, according to an October 9 ESPN report carrying a statement from a team spokesperson.

The organization said it plans to return to negotiations later in the season. It did not give a date for restarting discussions. That makes this a delay in extension talks, rather than an announcement that either player is leaving New York.

ESPN reported that Towns is eligible for a four-year extension worth more than $276 million. Sources told Shams Charania that New York's latest offer was approximately $200 million over four years.

Those offer details are reported terms, not a signed agreement or figures confirmed in the team's statement.

Towns is due $57 million this season and holds a $61.1 million player option for next season, according to ESPN. Hart is due $20.9 million this season, with a team option worth $22.3 million for 2027-28. Their existing contracts remain separate from any future extension.

The decision follows Towns publicly expressing frustration with the negotiations earlier in the week. For now, the next development to watch is whether the Knicks announce a new negotiating window.

The team has not supplied one, and the pause does not establish what either player's eventual deal will look like.

Checked October 10, 2026. Source: ESPN; team statement reported by Shams Charania.

Madison Square Garden in June 2019, a file photo by Ajay Suresh, via Wikimedia Commons, CC BY 2.0. Resized from the original; WordPress generates display sizes. Not a photo of the 2026 announcement.

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