There have been rumors of the New York Knicks showing a lot of interest in acquiring Donovan Mitchell from the Utah Jazz in what is surely going to be a blockbuster trade deal. It appears that these are more than just rumors, with the Knicks and the Jazz now reportedly involved in talks centered around the All-Star shooting guard.

Shams Charania and Troy Jones of The Athletic report that while the Jazz are talking to other teams with regard to a potential Mitchell trade, the Knicks appear to have the upper hand right now:

The Jazz and Knicks have begun discussions on a potential trade to send three-time NBA All-Star Donovan Mitchell to New York, sources tell The Athletic.

The Jazz are having conversations with multiple teams on a Mitchell deal, but the Knicks have emerged as the focused destination over the past several days, sources said. Both sides have discussed a deal framework in the past 24 hours, those sources said.

The Jazz seem to be on the brink of blowing up their entire roster and entering a full rebuild move. They already traded away Rudy Gobert, and it now sounds like Donovan Mitchell is next.

Unsurprisingly, though, Utah is reportedly expecting a major haul in exchange for their prized superstar. For their part, the Knicks do not seem prepared to give up all their future assets to the Jazz, which could complicate negotiations:

New York is motivated to give the Jazz a significant package. But the Knicks are wary, sources say, of giving away the proverbial store to the Jazz. They would like to come away from a potential deal with the front-end talent and the depth needed to be a factor within the Eastern Conference.

The Jazz have reportedly set a “high” bar in terms of what they would want in return for Mitchell, and as such, their asking price has been “substantial” in their initial round of discussions.