The Knicks and Toronto Raptors are discussing a trade to bring former No. 1 pick Andrea Bargnani to New York.
The Knicks' push to land the forward from Italy was put on hold Sunday when a deal was not completed, but a person with knowledge of the discussions says the talks will continue.
The person spoke on condition of anonymity because the discussions were to remain private.
The New York Times reported first Sunday that the teams had agreed to a deal, with the Knicks sending Steve Novak, former Raptors center Marcus Camby and a future No. 1 pick to Toronto. But the deal was not approved for salary reasons and the teams will keep looking for ways to make it work.
Early Monday morning, Novak posted a thank you to Knicks fans on his Twitter account and 'Next stop ... Toronto."
Bargnani was the top pick of the 2006 draft but the Raptors have made just one playoff appearance since drafting him.
He averages 15.2 points for his career, but dropped to just 12.7 per game last season while playing in only 35 games, missing the last month with a sprained right elbow. The 7-footer averages just 4.8 rebounds for his career and largely plays on the perimeter in Toronto, but his 3-point shooting percentage tumbled to about 30 percent in each of the last two seasons.
Bargnani has two years and about $22.2 million remaining on his contract.
The Knicks waived reserve guard James White earlier Sunday.