Knicks Rumors: Team Moving On from Jeff Teague Due to Timberwolves Interest

The New York Knicks will reportedly not be pursuing point guard Jeff Teague anymore.

On Friday, Marc Stein of ESPN reported the Knicks "abandoned their hopes" of meeting with him because they are "convinced" he has already committed to joining the Minnesota Timberwolves.         

This comes after the Timberwolves announced Friday they acquired a 2018 first-round pick from the Utah Jazz in exchange for point guard Ricky Rubio. That, along with the trade in which they acquired Jimmy Butler from the Chicago Bulls for a package including Kris Dunn, freed up the point guard spot for Teague if he signs with the Wolves.

As for the Knicks, they have 18-year-old rookie Frank Ntilikina at point guard after selecting him with the No. 8 overall pick in the 2017 draft. However, there isn't much depth elsewhere, and Stefan Bondy and Frank Isola of the New York Daily News called it "a long shot" they will bring back Derrick Rose.

Bondy and Isola also pointed to financial concerns as a roadblock for the team to sign impact point guards such as Kyle Lowry and Jrue Holiday.

Alex Kennedy of HoopsHype said New York "considered" trading Courtney Lee to open up cap space to pursue "significant" point guards in free agency, but Teague apparently won't be on the list.