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Knicks Free Agency Rumors: Grant Hill An Option For New York

NBA Free Agency officially begins on Dec. 9, but the New York Knicks free agency rumors are already flowing. The latest, according to Newsday's Alan Hahn, is that the Knicks could look to target veteran small forward Grant Hill for the right price.

New York pursued Hill two seasons ago, but the 39-year-old opted to stay with the Suns in Phoenix. The Knicks are also considering the Mavericks' Caron Butler and re-signing Shawne Williams as options on the wing.

More from the report:

Suns president Lon Babby told The Arizona Republic that re-signing Hill "is an absolute first order of business and top priority." But Phoenix is on the decline and Hill's closest friend on the team, Steve Nash, is in the final year of his contract and may be traded. If the Knicks' plans for Chris Paul don't come to fruition, Nash could wind up in New York as a free agent next summer to reunite with Hill, Amar'e Stoudemire and Mike D'Antoni.

Interim general manager Glen Grunwald won't have many options in free agency this season, as the Knicks expect to be capped out. But according to the yet-to-be-finalized collective-bargaining agreement, the Knicks will have the full mid-level exception ($5 million) if they want to use it.

As Hahn notes, the Knicks primary goal is to preserve cap space for next season when Chris Paul, Deron Williams and Dwight Howard could all be looking for a new home, and a new Super Team.

-- The NBA is back! Follow the abbreviated offseason with SB Nation New York's Knicks Free Agency Rumors StoryStream and our Knicks blog, Posting and Toasting.