From CBS Sports · · 1m 40s
Knicks face salary cap crunch after championship
New York's defending champs can't afford to keep their core together under the NBA's financial rules.
In brief
New York's defending champs can't afford to keep their core together under the NBA's financial rules. The Knicks must choose between paying Karl-Anthony Towns his max contract or accepting major roster changes to stay under the salary cap. Originally reported by CBS Sports.
Knicks won't spend to keep core
Owner James Dolan said the team won't go into the second apron to retain their championship roster. Mitchell Robinson already left for the Boston Celtics in free agency.
Towns extension talks have stalled
Karl-Anthony Towns became eligible for a four-year max extension worth over 272 million dollars, but the Knicks haven't offered the full amount. ESPN reported talks have stagnated with no deal expected before training camp.
Knicks offered Towns a discount
New York approached Towns about a deal worth 45 to 50 million dollars annually, a major discount from the 68 million dollar annual figure his max contract would provide.
Towns proved his worth last season
Towns averaged 20.1 points and 11.9 rebounds per game in the regular season and elevated his efficiency in the playoffs with 55.1/45.6/90.9 shooting splits during New York's championship run.
More extensions loom next summer
Even if the Knicks sign Towns, Jalen Brunson and OG Anunoby are extension eligible next summer, and Josh Hart is waiting on his own extension. Keeping everyone together will be financially impossible.
Players may need to take cuts
Brunson already sacrificed money in his last deal to build this core. The Knicks will likely ask other players to do the same, though getting an entire team to accept pay cuts to avoid second-apron penalties won't be easy.
The essence
The Knicks must choose between paying Karl-Anthony Towns his max contract or accepting major roster changes to stay under the salary cap.
