Talks have been on and off since Wednesday and are now back on, Cowley added.
LaVine singed a maximum contract with the Bulls before the season, but the Knicks have seemingly been determined in their pursuit, anyway. With the Bulls struggling to live up to expectations, they ay be willing to part with either LaVine or another key member of their core.
The Knicks would likely need to include guard Immanuel Quickley in a deal for LaVine. They reportedly also have been involved in talks on Raptors forward OG Anunoby in recent days.
This is a developing story, so check back for updates. The NBA trade deadline is 3 p.m. EST on Thursday.