When we previously noted on the Knicks burgeoning interest in signing free agent guard Allen Iverson, it seemed as though it was a long shot to happen. But new reports have come out in the last two days that are making us question everything.

According to a particularly giddy Post report, it seems the Knicks are on the verge of signing Iverson to a one-year deal, possibly in time to join them on a three-game west coast trip next week. "Knicks president Donnie Walsh and Mike D’Antoni were planning on interviewing Iverson first as final confirmation of their desire to make this massive move that changes the entire face of this season’s club." According to the Post, coach D'Antoni endorsed signing Iverson to the hesitant Walsh, for fear that a terrible season might make LeBron James and other free agents wary of signing with the team next year.

The Daily News is reporting that MSG chairman James Dolan is now the one holding up the process, and has "reservations" about signing the frequently controversial guard. Interestingly, GM Walsh is "doing background checks. He spoke to former Knicks coach Larry Brown, who has a long, tumultuous history with Iverson. Brown told the Daily News yesterday that Iverson asked him to call Walsh on his behalf this past summer. 'Donnie's always liked Allen,' Brown said on the phone yesterday. 'And I know Allen wanted to play there.'"

However, all that said, an anonymous source within the Knicks told ESPN this morning that, "We are definitely not pursuing him anymore." That clears things up! Today at noon, Knicks GM Walsh is supposed to address the press, and will hopefully give us a more clear indication of which way they're leaning.

UPDATE: With a little egg on their back-page face, the Post is reporting that the Knicks will officially announce that they are not pursuing Iverson this afternoon.