Following reports suggesting a previous injury may have been the culprit in Reggie Bullock's deal with the new York Knicks falling through, it is now being reported that both parties are still currently engaged in working out this minor hiccup.

As pointed out by SNY's Ian Begley, Bullock's camp has remained in constant communication with the Knicks' front office following the 6-foot-7 swingman's failed medical. Right now, they are looking to rework the original deal, which was reportedly at $21 million for two years:

As of Thursday morning, there was still mutual interest between the Knicks and Reggie Bullock to negotiate a new deal after a medical issue hampered their original agreement, per SNY sources.

Bullock's agent, David Bauman, and the Knicks continue to work together on a new agreement for the six-year veteran.

It does seem that due to this fitness concern, Bullock might be looking at a reduced paycheck for the coming season. Nevertheless, this should still be more significant than the $2.5 million he earned last season (between the Detroit Pistons and Los Angeles Lakers), where he would go on to average 11.3 points (on 41.2 percent shooting), 2.3 3-pointers, 2.7 rebounds, 2.0 assists, and 0.6 steals in 29.8 minutes per contest.

As for the Knicks, this might prove to be a blessing in disguise on their part, with this development likely to open up more cap space for the squad. New York is reportedly interested in free agent Marcus Morris, who reportedly may back out from his original agreement with the San Antonio Spurs to discuss a more profitable deal with the Knicks. Whatever pay cut Bullock takes may be used to help pay Morris more money.