Karl-Anthony Towns does not anticipate signing a contract extension with the New York Knicks before the regular season begins. Towns addressed the stalled talks Monday morning after a shootaround in Philadelphia.

"It don't look good," said Towns.

Towns is eligible to sign up to a four-year, $276 million extension. Towns holds a $61 million player option for next season.

The gap between the sides is wide with New York's offer in the $45 million to $50 million per year range.

The Knicks are near the second apron, and owner James Dolan has publicly said he does not want to cross it under any circumstance.

The Knicks also plan to give Jalen Brunson a max contract next summer. Keeping the core intact while staying under the second apron will require other players to accept less money.

Towns said he is willing to take a discount, but he also wants compensation that reflects what he and the team have accomplished over the past two seasons.

"Simply put, I want to do something that can keep the team together and work with the Knicks and also values me," said Towns. "None of those things have come close to happening."

Towns was asked whether he can separate basketball from business.

"In my experience, you just approach the moments right now and let it go where it goes," said Towns.

Towns was then asked if he expected an extension to come easily given the team's recent success.

"No s-t, Sherlock," said Towns.

Towns is represented by CAA, which was formerly run by Knicks lead executive Leon Rose.