Alan Hahn of Newsday reports that the Knicks have made an offer to Ramon Sessions that is "slightly less" than the team's full mid-level exception, which starts at about $5.8 million.

Yet Hahn reports that the two sides are "not close to an agreement."

The Knicks are set to have a large amount of cap room next summer and the team is wary of compromising its free-agent plans by adding too much salary to the 2010-2011 ledger.