Knicks, Others Express Interest In Monta Ellis

Monta Ellis is drawing plenty of interest from contending teams early in free agency, according to Ken Berger of CBSSports.com, who reports that the Knicks are among the clubs to express interest in the veteran guard. The Bulls, Spurs, Nuggets and Suns have also inquired on Ellis, says Berger.

Many of those teams would seem to be long shots for Ellis. The Knicks, for instance, likely won't be able to acquire players via sign-and-trade since they're over the tax line, so they'll only have the mini mid-level exception ($3.18MM) available. Considering he just turned down an option worth $11MM, Ellis seems unlikely to sign with a team that can't even offer him that amount over three years.

Still, Ellis and agent Jeff Fried are "known to be willing to compromise in order to sign with a contending team," according to Berger, so it's probably too early to rule out any suitors, as unlikely as they may appear.

Several Teams Interested In Chase Budinger

9:44am: There is strong mutual interest between Budinger and the Bucks, tweets Gery Woelfel of the Racine Journal Times.

12:48am: As expected, Flip Saunders and a Timberwolves contingent is meeting with free agent wing Chase Budinger in San Diego, as Sean Deveney of the Sporting News tweets. However, the Wolves aren't the only team interested in signing Budinger.

According to Sam Amick of USA Today (via Twitter), the Pelicans, Bucks, Pacers, and Mavericks all have some level of interest in Budinger. Mark Medina of the Los Angeles Daily News adds the Lakers to that list of potential suitors (Twitter link), though Mike Bresnahan of the L.A. Times hears that Budinger will likely receive more than the $3.18MM mini mid-level that the Lakers can offer (Twitter link).

Budinger, 25, missed most of the 2012/13 season with a knee injury, but provides excellent outside shooting when healthy.

Bucks Pursuing Jeff Teague

The Bucks' backcourt is a state of flux this offseason, with Brandon Jennings, Monta Ellis, J.J. Redick, and Mike Dunleavy all now officially on the free agent market. As the team considers its own free agents and eyes outside possibilities, Jeff Teague has emerged as a target, according to ESPN.com's Marc Stein (via Twitter).

Teague, 25, received a qualifying offer from the Hawks, so Atlanta has the ability to match any offer sheet the young guard signs with a rival team. It's also an Atlanta connection that has the Bucks pursuing Teague in the first place — according to Stein, former Hawks coach Larry Drew is encouraging his new team to go after his old point guard.

Warriors Exploring Trading David Lee

As the Warriors look for ways to upgrade a roster that earned a spot in the Western Conference Semifinals this year, the team has explored the possibility of trading David Lee, reports Adrian Wojnarowski of Yahoo! Sports.

According to Wojnarowski, the Warriors offered Lee to the Raptors in a package that included Andrea Bargnani, but Toronto agreed to a deal that will send Bargnani to the Knicks. Golden State also made the Trail Blazers an offer for LaMarcus Aldridge that included Lee and Brandon Rush, says Wojnarowski. However, Portland has more appealing options than the Warriors' proposal, if the club chooses to move Aldridge.

Lee, 30, still has three years and close to $45MM remaining on his contract. While he's viewed as a better value than other Warriors like Andris Biedrins and Richard Jefferson, the three years remaining on his deal make him tricky to move. As Wojnarowski notes, it makes sense for Golden State to explore trading Lee for a star or at least a player on a shorter contract.

Lakers Rumors: Farmar, Garcia, Young, D12

We rounded up a few Lakers notes earlier tonight, but now that free agency has begun, there are plenty more updates out of Lakerland. Here's the latest:

Blazers Contact Pachulia, Eyeing Other Bigs

With J.J. Hickson a virtual lock to sign somewhere besides Portland, the Trail Blazers are in the market for a big man this month. With free agency underway, the team has reached out to unrestricted free agent Zaza Pachulia, reports Chris Haynes of CSNNW.com. According to Haynes, there's mutual interest between the Blazers and Pachulia, and talks between the two sides will continue.

We heard earlier tonight that the Blazers are also expected to meet face-to-face with Chris Kaman now that the free agent period has begun. Nikola Pekovic is on Portland's radar as well, according to Sean Deveney of the Sporting News (via Twitter). However, with the Blazers set to absorb Thomas Robinson's $3.5MM salary into their cap space, it's unlikely the club will still have the room to make a competitive offer for Pekovic.

Clippers, Matt Barnes Discussing New Deal

Coming off one of the best seasons of his career, Matt Barnes has some interest in returning to the Clippers, according to Brad Turner of the Los Angeles Times (via Twitter). Turner reports that the Clippers have contacted Barnes' agent about returning to L.A., and both sides are working on a new deal.

Barnes, 33, only earned the veteran's minimum with the Clippers last season and would seem to be in line for a raise based on his production (10.3 PPG, 15.5 PER). That could make a new deal with Los Angeles tricky, since the club only holds his Non-Bird rights, which doesn't allow for a significant bump in salary. The team could also allot part of its mid-level exception to re-sign Barnes, but may prefer to use that MLE on an outside free agent.