The Knicks and point guard Langston Galloway are moving closer in negotiations for a new contract, The Post has learned, with the new point guard's second 10-day contract having expired Tuesday.
According to a source, progress was made Tuesday morning. The issue is whether the Knicks are willing to give Galloway some guaranteed money for next season. The Knicks — who cancelled Tuesday's practice because of the snowstorm — are willing to sign Galloway for the rest of the season, but initially offered only a non-guaranteed pact for 2015-16.
"They're getting there,'' one source familiar with the situation said.
Galloway is technically a free agent now. If talks break down, there are a couple of other interested teams, according to a source.
Phil Jackson is very protective of his cap space, with potentially $32 million available to spend on free agents this offseason. Galloway was asking for the $800,000 minimum for second-year players for the 2015-16 season.
Jackson didn't exercise the $2 million option on Shane Larkin's pact for next season – with indications he does not believe the undersized, speedy point guard is part of the Knicks' future.
Galloway has been one of the positive developments to an otherwise brutal season since joining the team three weeks ago from the team's D-League affiliate in Westchester. Galloway also was on the team's summer-league squad after going undrafted. It was surprising any contract impasse occurred at all.
The 6-foot-2 Galloway, who has started the past four games, is averaging 12.1 points and 4.1 rebounds and 3.0 assists.
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