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Knicks Free Agency 2012: New York Won't Retain Landry Fields

The Toronto Raptors aren't playing around this offseason.

The New York Knicks will lose their starting shooting guard, Landry Fields, to their neighbors north of the border after he signed an offer sheet on Tuesday, according to the New York Post.

Fields put pen to paper on a three-year, $20-million contract that New York doesn't appear to have interest in matching. It's hard to blame general manager Glen Grunwald considering Fields will likely be paid more than a player like Ray Allen.

Toronto didn't mind taking the plunge due to its considerable amount of cap space and more importantly, its desperation to acquire Steve Nash. Fields was thought to be a major factor in any sign-and-trade the Phoenix Suns and Knicks could work out.

New York is still trying to make some type of deal work, perhaps now including promising rookie Iman Shumpert. However, the Suns might be hesitant after Shumpert tore his ACL in the playoffs.

For more on the Knicks, please be sure to check out our blog Posting And Toasting along with SB Nation New York for all the latest news and updates.