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Talks have stagnated between the New York Knicks and Karl-Anthony Towns on a contract extension, and an agreement is considered unlikely as the team begins training camp next week, sources told ESPN on Wednesday.

The sides have spent extensive time discussing a potential extension during the offseason, but there has been no movement lately in negotiations, sources said, as the Knicks stand to go for a repeat following their first NBA title in 53 years.

Towns, who will turn 31 in mid-November, is eligible to receive a contract extension for up to four years and $276 million, according to ESPN's Bobby Marks.

An All-Star in his two seasons in New York, Towns averaged 15.9 points, 10.6 rebounds and 4.9 assists on 55% shooting through last season's playoffs, helping the Knicks to a 16-3 mark as they defeated the San Antonio Spurs in five games in the NBA Finals.

Knicks owner James Dolan has repeatedly said he wanted to keep the Knicks out of the punitive second apron. Valuable backup center Mitchell Robinson was one of the casualties of the edict, as he signed with the Boston Celtics this offseason.

Towns is due $57 million this season and has a $61 million player option for 2027-28. As it stands, the Knicks and Towns could come to an agreement at any point this season, but it is not imminent and appears unlikely in the short-term.

The Knicks have many looming contract decisions over the next several months. Swingman Josh Hart is eligible for a contract extension as well, while Jalen Brunson and OG Anunoby will be eligible for contract extensions next offseason.

The Cavaliers, Nuggets and Clippers have agreed on a trade that will send Peyton Watson to Cleveland and Max Strus to Los Angeles

The Cavaliers are said to covet even more financial flexibility if they can manufacture it either for their pursuit of Nuggets restricted free Peyton Watson or Hawks unrestricted free agent Jonathan Kuminga as well as the eventual re-signing of James Harden.

One source familiar with the process said Harden's new multiyear deal with the Cavaliers should be completed "soon-ish." As The Stein Line first reported in the below article on July 27, Denver's offers to Watson have been in the $70 million range over four seasons. Watson is believed to be seeking an annual average salary north of what teammate Christian Braun landed from the Nuggets last October in a five-year, $125 million rookie scale extension.

Looking to expand his physical capabilities, Victor Wembanyama reportedly spent his week training with Provence Rugby in France. The Spurs superstar participated in on-field drills to learn different movement patterns, reinforcing his reputation for using non-traditional training methods to enhance his performance in the NBA.

"Sometimes you don't even know when you've already watched the end," the 37-year-old Westbrook wrote on his post, which contained a video of his career narrated by actor Michael B. Jordan. "You had to be there. And now it's over."

The summer has seen so much change across the league. But there are still reasons for teams and their fans to worry.