The New York Knicks encountered considerable salary challenges in their pursuit of Karl-Anthony Towns from the Minnesota Timberwolves, primarily because of his substantial contract.
Towns is beginning the first year of a four-year, $220.4 million designated veteran extension, which includes a $49.2 million cap hit for the upcoming season. His contract will increase to a player option worth $61 million in the 2027–28 season.
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