"According to a person familiar with Layden's thinking, the Knicks are expected to release veteran forward Travis Knight if Layden is unable to orchestrate a trade. Knight is in the final year of his contract and will earn $4.4 million this season. Free-agent guard Matt Carroll would also be released."

Othella Harrington is the player most rumored to be on the block.

The Knicks have 17 guaranteed contracts and need to cut down to 15 by today.