A source close to the participants in the talks told Christopher Reina late Tuesday night that New York and Minnesota have had serious discussions about a deal which would send Kevin Garnett to the Knicks in exchange for Penny Hardaway and Channing Frye. Isiah Thomas, who has called Frye untouchable all season, is willing to give up the sought after rookie to land the future Hall of Famer.

Garnett has made it clear to the front office that should he be dealt, he wants to go to New York and that wish will be fulfilled if the Timberwolves decide to end the KG era and begin to rebuild. They reportedly respect Garnett and all that he has done for both the franchise and the area would try to trade him to his preferred team.

The question of if the Wolves want to move on without Garnett will be the deciding factor in whether a trade gets completed before Thursday.

This deal delayed last week's Knicks discussions with the Magic regarding Steve Francis and it is why it will be Jamal Crawford and Maurice Taylor going to Orlando for their first time, instead of Hardaway?s second. That deal is all but complete, but Orlando is waiting to see if Denver returns to the table before the deadline.

If the Wolves choose to retain Garnett, the Knicks will turn to Denver and Kenyon Martin, a player that Larry Brown covets.