What happened: The New York Knicks are halting all contract extension discussions for the foreseeable future, according to a team spokesperson. The franchise stated its entire focus is now directed toward preparing for the upcoming season and delivering another successful year.

Why it matters: The organizational mandate effectively tables negotiations with multiple roster members, most notably Karl-Anthony Towns, who recently noted his $276 million extension was not close. Towns is entering his third season in New York and previously indicated he found the initial offer unreasonable.

What to watch: The front office will push any unresolved contract matters to the upcoming offseason.