NEW YORK (WFAN) – The Toronto Raptors have reached a verbal agreement with New York Knicks restricted free agent Landry Fields on an offer sheet, according to sources with knowledge of the deal.

Sources said that Fields will sign a three-year offer from the Raptors on July 11, which is the first day NBA players can sign new contracts.

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The deal is rumored to be about three years and worth around $20 million.

The Knicks will have three days to decide whether to match the offer once Fields signs, but will likely choose not to.

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This deal all but eliminates the possibility of a Knicks sign and trade to acquire guard Steve Nash from the Phoenix Suns.

Ken Berger of CBS Sports reported on Twitter that the “Knicks getting Steve Nash in sign-and-trade was “on life support” before, source says. Fields’ agreement with Raps may have “killed it.””

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