The NBA Free Agency period began 12:01 a.m. this morning. As fans wait with bated breath, may rumors will swirl around the possible free agents signings their team will make. One of those rumors involves Monta Ellis and the New York Knicks, according to citing league sources.

The sources are saying the Knicks have shown a desire to obtain the former Milwaukee Bucks star. If this move were to occur it would be a major singing for the Knicks for two reasons.

The first reason is the Knicks need may be in desperate need of another pure scorer. Reigning sixth man of the year J.R. Smith has decided to test the waters of free agency, most likely leaving the team without its second best player. If the Knicks were to somehow pick up Ellis they would be filling a big hole. Outside of superstar forward Carmelo Anthony—and possibly former Toronto Raptor Andrea Bargani whom the team just acquired—the Blue and Orange don’t have someone who can consistently create their own shot. Ellis would give them someone who can both create his own shot and set up teammates. During the 2012-2013 regular season, Ellis averaged 19.2 points per game, 6.0 assists and 2.1 steals, according to

The second reason—the chances the Knicks get Ellis are very, very slim. The James Dolan-owned team has a mid-level exception at $3.2 million, the most they can offer Ellis. The star guard just left the $11 million he would have received from the Bucks next season. However, according to CBS Sports, it is not unheard of for Ellis and his agent Jeff Fried to compromise on salary if they believe the former Most Improved Player of the Year is heading to a contender. Whether or not the Knicks are a contender is debatable.

In addition to the Knicks the Nuggets, Spurs, Suns and Bulls have all showed interest in Ellis.