The New York Knicks are reportedly open to trading for "undesirable contracts" in order to acquire assets, sources told Ian Begley of SNY.

The Knicks could have more than $60 million of cap space this offseason depending on what they do with several player options.

NBA teams are still waiting for a final number on next season's cap, with that information expected later this week.

SNY adds that there is no consensus on whether the Knicks will look to compete next season or play for the 2021 draft.

The Knicks have been linked with trades for Chris Paul, Victor Oladipo, and Russell Westbrook thus far.