"Baron Davis has reportedly signed for the veteran's minimum of $1.4 million. This leaves the Knicks with the $2.5 million "room" exception available under the new collective bargaining agreement.

Jamal Crawford and Shawne Williams both spurned the Knicks' offer of the "room" exception to sign elsewhere. Now, the Knicks are trying to lure other targets with the exception.

A source close to James Posey said the Knicks have been in contact with the forward as recently as Monday. The source said Posey has been in talks with a number of teams and, as of Monday night, no deal had been struck. According to a report Monday from the Boston Globe, the Celtics are not interested in re-signing Posey, who was a key piece to their 2008 NBA championship team. "