New York Knicks Now Owe Karl-Anthony Towns A Lot Of Money

Karl-Anthony Towns has a lot of money left on his contract.

May 14, 2024; Denver, Colorado, USA; Minnesota Timberwolves center Karl-Anthony Towns (32) in the third quarter against the Denver Nuggets during game five of the second round for the 2024 NBA playoffs at Ball Arena. Mandatory Credit: Isaiah J. Downing-Imagn Images / Isaiah J. Downing-Imagn Images

Karl-Anthony Towns is one of the best forwards in the NBA.

At 28, he is in the prime of his career and is coming off a strong season where he averaged 21.8 points, 8.3 rebounds and 3.0 assists per contest while shooting 50.4% from the field and 41.6% from the three-point range.

On Friday evening, Shams Charania and Jon Krawczynski of The Athletic reported that the Minnesota Timberwolves have traded Towns to the New York Knicks.

Developing story at @TheAthletic with @JonKrawczynski on Timberwolves and Knicks blockbuster deal sending Karl-Anthony Towns to New York for Julius Randle, Donte DiVincenzo and a first-round pick: https://t.co/BEP7B1UCwD

— Shams Charania (@ShamsCharania) September 28, 2024

Towns will be a huge addition to the Knicks, who have Jalen Brunson, Mikal Bridges, Josh Hart, Mitchell Robinson and OG Anuonby.

That said, one thing to note from the trade is that Towns has a lot of money left on his contract.

Next season, he will be paid $49.2 million.

Via Tommy Beer: "Karl-Anthony Towns' annual salary over the next four seasons:

2024-25: $49.2 million
2025-26: $53.1 million
2026-27: $57.1 million
2026-27: $61.0 million

He becomes the highest paid player in Knicks franchise history. By far."

The final year is a player option, so the Knicks could end up having to pay Towns $220 million.

Karl-Anthony Towns' annual salary over the next four seasons:

2024-25: $49.2 million
2025-26: $53.1 million
2026-27: $57.1 million
2026-27: $61.0 million

He becomes the highest paid player in Knicks franchise history. By far.

— Tommy Beer (@TommyBeer) September 28, 2024

There is good reason to believe that Towns will be worth every dollar of the contract.

That said, there will be a lot of expectations on the Knicks to reach the NBA Finals at some point in the next two seasons.

The Knicks will play their first game of the season on October 22 when they face off against the Boston Celtics (in Massachusetts).

Simple to understand why the Timberwolves made this move: Karl-Anthony Towns was due $220M over the next four years… more than they could afford.

They offload KAT’s contract and go all-in on Naz Reid, while acquiring Julius Randle and Donte Divincenzo in the process. pic.twitter.com/3igci6JkPF

— Legion Hoops (@LegionHoops) September 28, 2024

Towns has career averages of 22.9 points, 10.8 rebounds, 3.2 assists and 1.3 blocks per contest while shooting 52.4% from the field and 39.8% from the three-point range in 573 games.

He is a four-time NBA All-Star.