Randy Foye is interested in signing with the Knicks, according to a source.

New York will have more flexibility in free agency following an arbitration ruling involving early Bird Rights.

"He will have multiple offers at that amount and more annually," the source told ESPN New York. "New York would be a great fit for both [playing and financial reasons]." 

Foye could start at shooting guard until Iman Shumpert is recovered.

Foye grew up in New Jersey and has a strong history of play at Madison Square Garden.