BREAKING: New York Knicks Lock Down Karl-Anthony Towns With Jaw-Dropping $224 Million Deal That Sends Shockwaves Through the NBA

The New York Knicks made their boldest move of the offseason yet, inking All-Star big man Karl-Anthony Towns to a four-year, $224 million contract extension, ensuring he remains a centerpiece at Madison Square Garden through the 2029 season.

The deal, which kicks in after the 2025–26 campaign, makes Towns one of the highest-paid players in NBA history, solidifying the Knicks’ commitment to their current core and long-term title aspirations.

“This is where I want to be. This city, this team — it’s home now,” Towns said at a packed press conference in Midtown Manhattan. “We’ve built something special here, and I’m not going anywhere.”

A BLOCKBUSTER PAYDAY FOR THE KNICKS’ FRONTCOURT STAR

Towns, 29, arrived in New York last season in a high-profile trade with the Minnesota Timberwolves. Since then, he has become a key figure in the Knicks’ resurgence, averaging 22.6 points, 9.4 rebounds, and 3.8 assists per game while providing stretch shooting, post presence, and veteran leadership.

While the Knicks fell short of the NBA Finals in 2024, Towns’ chemistry with point guard Jalen Brunson and defensive anchor Mitchell Robinson helped guide New York to back-to-back playoff runs for the first time in over a decade.

“This is the kind of deal championship teams make,” said Knicks President Leon Rose. “Karl is an elite talent and the kind of person we want representing New York.”

 

The extension includes a player option in the final year and significant performance-based incentives, including bonuses tied to All-NBA selections and playoff success.

TITLE HOPES BURN BRIGHT IN NEW YORK

The Knicks’ decision to lock up Towns signals their belief that this current group can contend for a title in the near future. With Brunson under contract through 2027 and RJ Barrett continuing to develop into a reliable two-way threat, New York believes it has found the right balance of star power, depth, and coaching under a new regime (following Tom Thibodeau’s surprise exit earlier this month).

Fans outside Madison Square Garden greeted the news with jubilation. “We haven’t had a star like this commit long-term in a while,” said one fan. “This feels real. It feels like we’re finally all-in.”

THE NUMBERS, AND WHAT COMES NEXT

Towns’ extension breaks down to an average annual salary of $56 million per year, including a $60 million salary in the 2028–29 season. The deal places him firmly among the NBA’s financial elite, alongside players like Giannis Antetokounmpo, Luka Dončić, and Nikola Jokić.

In addition to financials, Towns is reportedly working with the organization on philanthropic partnerships focused on youth education and mental health — both causes close to his heart.

With Towns locked in, the Knicks are now expected to pursue veteran depth this summer to complement their trio of Towns, Brunson, and Barrett. Rumors have already linked them to interest in free agents such as Malcolm Brogdon and Buddy Hield.

For now, though, Knicks fans can rest easy: one of the game’s most skilled big men is staying in the Big Apple — and chasing a banner for the Garden.