Knicks did not begin negotiations on an extension with Kristaps Porzingis

The Knicks and Kristaps Porzingis have not discussed a contract extension.
The Latvian forward is eligible to sign a five-year, $157 million contract extension this summer but the Knicks would have $10 more million in cap next summer if they wait and re-sign Porzingis in 2019.

Per ESPN, The Knicks hadn't begun negotiations on an extension with Kristaps Porzingis early in free agency and it doesn't sound like an extension is imminent. The All-Star forward is eligible for a 5-year, $157 million extension this summer but the Knicks would have an additional $10 million in cap space in 2019 - when they hope to sign a top free agent - if they waited to extend Porzingis until next summer. Knicks GM Scott Perry was asked if the Knicks were more likely to wait until next summer to extend Porzingis. "We'll continue to stay in touch with Kristaps," Perry said in Las Vegas on Tuesday, per ESPN's Nick Friedell. "He's part of our long-term plan.”