Hoops Nation

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 say that Fields will sign a three-year offer approaching $20 million. He cannot sign until July 11, which is the first day NBA players can sign new contracts.

The third year of the deal is expected to include a spike in Year 3 similar to the deal that the Houston Rockets verbally agreed this week with Chicago Bulls restricted free agent Omer Asik.

The Knicks will have three days to decide whether to match the offer once Fields signs.

(Via ESPN)