The New York Knicks delayed the signing of Reggie Bullock due to an issue with his physical, but the team won't be backing out of their agreement with the veteran swingman.

New York and Bullock are reportedly reworking their initial two-year, $21 million deal. And despite concerns that the team might not push through a contract agreement, the Knicks remain firm in signing the 28-year-old.

The Knicks signed free agents Julius Randle, Taj Gibson, Bobby Portis, Wayne Ellington and Elfrid Payton, making the announcement official on Tuesday.

While New York re-evaluates the Bullock situation and works on a new deal, however, the team is reportedly looking to add veteran forward Marcus Morris as well.

Morris initially agreed to a two-year, $20 million deal with the San Antonio Spurs, but he is now re-considering the decision as the Knickerbockers could offer him a one-year contract worth $15 million. New York would be able to accommodate the salary after reworking Bullock's deal to a cheaper contract.

It remains to be seen how the situation will unfold, but it seems more likely that Bullock will sign with the Knicks — albeit on a cheaper and likely shorter contract in order to give New York some sort of insurance.