Karl-Anthony Towns has opened the 2026-27 campaign as the New York Knicks’ most valuable player. The offensive package is as versatile as ever, and he’s anchoring one of the league’s best defenses. Any reasonable mind might assume he’s gaining a ton of leverage in extension talks.
Surely, the thinking goes, another team will beat the Knicks’ current offer of $45 million to $50 million per year if the seven-footer reaches free agency. This isn’t a hypothetical take, either. Both James L. Edwards III of The Athletic and Sam Vecenie of the Game Theory podcast agreed during a recent discussion that another suitor would give Towns more than $200 million over four years on the open market.
One look at the potential market, however, suggests that will not be the case.
The Knicks do not have a clear threat to keeping Karl-Anthony Towns
If Towns declines his $61 million player option next summer, another team can offer him up to $264.9 million in a four-year deal. But with the Knicks dangling $50 million per year, it won’t take that much to beat their purported best offer.
Looking at next year’s cap-space projections from Keith Smith of Spotrac, seven teams have a relatively clean path to operating with the necessary spending power. That number will decline between now and offseason as select squads take on money that nukes their cap space. Other possibilities can be ruled out because they won’t make sense.
Don’t take my word for it. Let’s run through the list of teams who could feasibly give KAT over $200 million next summer, and explain why they’re flimsy fits.
Atlanta Hawks
Initial projections have the Hawks at slightly over $40 million in room. They will have to clear additional money after bidding farewell to CJ McCollum and Lu Dort to make a deal happen. With so many expiring contracts on the books right now, they are also a prime candidate to take on money for next season at the trade deadline.
Brooklyn Nets
The Nets will wake up with max cap space over the summer even after Julius Randle picks up his player option. But, uh, Towns isn’t going to Brooklyn if he actually wants to play competitive basketball before the decade is out.
Chicago Bulls
The Bulls have a long-term void at center, and can get KAT money if they decline (or move off) Norman Powell’s team option and make a couple smaller cap-clearing moves. They’re also in full-on rebuild mode. Throwing $200-plus million at Towns doesn’t jibe with their timeline. And again, they’re another team KAT can’t hope to contend with anytime soon.
Golden State Warriors
Jimmy Butler and Draymond Green have to go for the Warriors to enter the running. Even then, they’ll need a smaller salary dump or two to beat the Knicks’ current $50 million-per-year offer. Yaxel Lendeborg looks like a potential star, but there’s not much else going for Golden State. Curry turns 39 this March, so KAT would have to be enamored with Lendeborg and Brandin Podziemski. What’s more, the Warriors will fall off this list entirely if they wind up trading Kristaps Porzingis’ contract for a player with money on the books in 2027-28.
Los Angeles Clippers
After getting docked five first-round picks for circumventing the salary cap, the Clippers might be desperate enough to throw a max or near-max contract Towns’ way. Players tend to like Los Angeles, too. But they aren’t beating the Knicks’ offer by that much if both Brandon Ingram and Darius Garland are on the books. And once more, with feeling: Would KAT really leave the Knicks to join forces with Garland and Keaton Wagler?
Memphis Grizzlies
The Grizzlies will tumble out of KAT-level cap space if they give Ty Jerome (player option) a substantial raise. Going after Towns also requires them to exit their rebuilding phase while also deciding Zach Edey isn’t their starting 5 of the future.
Milwaukee Bucks
You can write off the Bucks if they decide to re-sign one or both of Tyler Herro and Jaime Jaquez Jr. Beyond that, they’re so far away from title contention you’d have to question Towns’ future intentions if he gave them legitimate consideration.
The Knicks know what they’re doing
Forget about Towns’ desire to win for a second. Among all the teams we just ripped through, how many would you be prepared to guarantee would offer him north of $200 million next summer? Between conflicting timelines and complicated cap sheets, the list tops out at two. And it could feasibly be less.
Just because squads can give KAT that much doesn’t mean they will. They will be worried about paying a seven-footer in his 30s a boatload of money, and what that contract looks like on the back end. Paul George is the only free agent to change teams over the past five years while getting more than $40 million per year.
As much focus as people give to the second-apron Bogeyman, the Knicks are doing the same thing by so far capping their offer. No one’s saying New York is handling this perfectly. It is decidedly not. You-Know-Who is largely to blame.
But the Knicks front office knows their stuff. They aren’t going to let Towns walk because of the second apron. They’ll move other players before letting that happen. If they believed he was definitely in line for a much larger payday, their offer would almost assuredly reflect as much. The fact that it doesn’t mean they’re not convinced Towns can do better.
And when considering the landscape that awaits him, they might be right.
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