The Knicks have suspended contract extension negotiations with Karl-Anthony Towns and two other eligible players, deferring talks until later in the season, per New York Post. The suspension followed Towns's rejection of a four-year offer around $200 million, which he saw as undervaluing his championship contribution. The organization cited its preparation for the season's Oct. 20 start and owner James Dolan's directive to keep payroll beneath the second apron threshold as reasons for the freeze. Towns, earning $57 million this season, holds significant leverage through an option he can choose to exercise or decline next offseason. If he opts out and continues performing well, he could command approximately $265 million over four years in open free agency negotiations. Josh Hart and Miles McBride are also affected by the negotiation freeze.