For the first time in over five decades, the Knicks will enter next season as the defending champions after winning the NBA championship last season at the expense of the Spurs. However, they have a smaller margin for error this time.
New York wouldn’t have won last season’s title if it weren’t for the financial sacrifices they made, as they went over the second apron of the luxury tax. In the past few years, teams that have won the title had to reluctantly let go of some of their key contributors to avoid staying on the second apron, essentially preventing dynasties unlike before.
The Nuggets were among those teams, as they continue to navigate through their complicated salary cap situation. Meanwhile, the same can’t be said for the Suns, who were able to keep one of their key role players for a decent amount of money this summer.
Today, SBOTOP recaps some of the notable NBA 2026 news.
Towns’ extension talks loom large for the Knicks
Knicks owner James Dolan publicly said he’s not willing to go over the second apron again, even if his team just won the Larry O’Brien trophy, so their roster will look slightly different this upcoming season.
One of the biggest casualties was Mitchell Robinson, who was among their key contributors to their title run, as the 28-year-old center signed a three-year, $47.4 million deal to join the Celtics. Ariel Hukporti and Jeremy Sochan also left the team to join the Sixers and Blazers. In return, they re-signed Jose Alvarado, Jordan Clarkson, Mohamed Diawara, and Landry Shamet to new deals, and brought in Andre Drummond.
Furthermore, the Knicks have a big decision to make involving Karl-Anthony Towns, who is yet again eligible for a contract extension. Per reports, Towns could command a four-year, $272 million deal, but New York might be hesitant to give it to him since Jalen Brunson’s extension is also looming.
Brunson left $113 million on the table when he signed his last contract, so the Knicks plan to do right by him by prioritizing his next payday, putting Towns in a complicated situation. Towns is due $57 million in 2026-27 and has a $61 million player option for 2027-28. He could take a discount to stay in New York (like Brunson did) or potentially make more money elsewhere.
Nuggets in huge trouble amid Jokic chatter
The Nuggets signed Tyus Jones and Spencer Jones to new deals while adding Marvin Bagley III and Lonnie Walker IV. In return, Tim Hardaway Jr. left for the Heat, but he might not be the only one leaving the team this summer.
Peyton Watson is due for a new contract since he’s a restricted free agent this summer. Per reports, the 23-year-old swingman is asking for at least $25 million in annual salary or to be paid more than starting shooting guard Christian Braun, who signed a five-year, $125 million extension last offseason.
However, since the Nuggets are on the second apron, they don’t have the money to give Watson what he wants, so they could risk losing him to another team. If that happens, it’s a huge blow because Watson is seen as a long-term replacement for Aaron Gordon, who’s getting older and more injury-prone.
Also, it’s important to note that Nikola Jokic is extension eligible this upcoming season. Jokic is currently eligible to sign a four-year, $278 million extension, but the three-time league MVP will wait to be eligible for a five-year, $359.5 million extension next summer.
Despite the holdout, Jokic reiterated he wants to stay in Denver for the rest of his NBA career. However, the NBA 2026 odds believe he will have a hard time contending for championships because his team can’t give him a robust supporting cast.
Suns extend key contributor
The Suns acquired Dillon Brooks last offseason as part of the Kevin Durant deal with the Rockets, and the 30-year-old repaid their trust by producing a career year in 2025-26. This past season, Brooks averaged 20.2 points, 3.6 rebounds, and 1.8 assists on 43.5-per cent shooting across 56 regular-season appearances, leading Phoenix to the playoffs. More importantly, Brooks brings the intangibles and toughness, especially on the defensive end, to help set the winning culture head coach Jordan Ott is building over there. As such, the Suns rewarded Brooks with a three-year, $73 million extension. In addition to bringing back Brooks, Phoenix signed Collin Gillespie, Mark Williams, and Jordan Goodwin to multiyear contracts and also acquired Miles Bridges and Luke Kennard. In return, they’ve let go of Grayson Allen and Royce O’Neale.
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