Shams Charania and Vincent Goodwill of ESPN reported Wednesday that extension talks between the Knicks and star center Karl-Anthony Towns have “stagnated” and that a deal seems unlikely to be reached in the short term.

On the Hoop Collective podcast (YouTube link), ESPN’s Brian Windhorst and Tim MacMahon said they think the Knicks and Towns’ camp are “tens of millions” apart in extension talks.

Towns will make $57MM this season and has a $61MM player option for the 2027/28 campaign. His maximum extension, which would replace the option, would be worth a projected $276MM over four years ($69MM annually).

“[Towns] obviously has… he and his side have a position on what he wants to sign for. The Knicks have a position on what they have offered. So those are the parameters. From what I understand, they are tens of millions apart. They’re not close,” Windhorst said (hat tip to RealGM for the transcript).

“Honestly, I believe that they could be eight figures apart on an annual basis,” said MacMahon.

“I believe that’s … you know, and maybe it’s changed since we’ve been starting this podcast, maybe the offers have changed,” replied Windhorst.

“And again, KAT is not pounding the table and saying, ‘You’ve got to max me.’ He’s willing to have discussions,” said MacMahon.

“Oh yeah. He’s willing to take less than the [$276MM], I believe,” said Windhorst. “The question is what are the Knicks willing to do?”

Here’s more on the Knicks:

• Ian Begley of SNY.tv hears from league sources that the Knicks at one point this offseason offered Towns an extension that started in the $45-50MM per year range. However, it’s unclear how many years that offer covered, and obviously it didn’t meet Towns’ expectations.
• In the same story, Begley considers how Towns’ contract situation could impact the team’s future payroll. Begley also expects unsigned second-round pick Tyler Nickel to be on the training camp roster and anticipates former two-way player Kevin McCullar Jr. receiving a camp invite as well.
• Barring a cost-cutting trade (Pacome Dadiet appears most vulnerable, but his contract has negative value), the Knicks will likely open the season with 14 players on standard contracts, with James Wiseman, Drew Eubanks, Bruce Brown, John Konchar and Ochai Agbaji potentially competing for that 14th spot. Stefan Bondy of The New York Post (subscriber link) thinks Wiseman or Eubanks would be the choice if the team only retains one player from that group, and views Brown and Konchar as the strongest candidates among the group of wings.