As of 4:15.

WojYahooNBA

Amar'e Stoudemire's 5-year, $100 mil deal is negotiated and on cusp of agreement, league source tells Y! Amar'e and Dolan have 4 pm meeting. 11 minutes ago via web

WojYahooNBA

Knicks and agent Happy Walters worked out "finer" points of deal, 4 pm meeting and presentation w/ owner and then Amar'e must give final nod 8 minutes ago via web

Tweeted at time of post.

samickFanHouse

RT @Ian_OConnor: One executive w/ another team in #LeBron derby said LBJ told them he was OK w/ Bosh or Amare, so no need for Knicks 2 wait

Ken Berger has some interesting tidbits to add-

http://ken-berger.blogs.cbssports.com/mcc/blogs/entry/11838893/23009479?source=rss_blogs_NBA

.....

According to multiple team executives pursuing James and Wade, neither player has informed any of the teams chasing them that they are out of the running. James isn't expected to make a decision until his three-day Nike camp concludes Wednesday in his hometown of Akron. Wade returned to Miami Monday and was seen at American Airlines Arena with Heat owner Mickey Arison. Once Stoudemire's commitment to the Knicks is finalized, those players will have witnessed something that the rest of the NBA has been waiting to see from them -- a decision and a direction.

Given James' comments during All-Star weekend that he would've been amenable to pairing with Stoudemire at the trade deadline -- and Amar'e's statement since the end of the season that such a pairing would've resulted in a "championship" -- the Knicks are comfortable making the first big move of this complicated chess match. According to a person familiar with the organization's strategy, a commitment from Stoudemire won't necessarily ensure a commitment from James -- but it won't hurt the team's pursuit of him, either. Regardless, faced with paralyzing indecision on the part of James, Wade and Bosh, the Knicks felt compelled to move forward with a pre-emptive strike.

If only one other free agent changes teams, the organization's decision-makers theorize, the Knicks will assure themselves of landing at least one of them. As the only team assured of using all its cap space this summer and still having room to add a major piece next summer when Eddy Curry's $11.3 million deal comes off the books, the opportunity to surround Stoudemire with championship-level talent transforms from a one-step process to a two-step process -- a contingency that team president Donnie Walsh has been preparing for since he arrived in New York two years ago and boldly announced his strategy to rebuild the Knicks with an aggressive campaign to create cap space.

....

Rather than waiting for James and Wade to make their decisions, Walsh has put the ball in their court: Do you want to pair with Stoudemire, or not? If they don't, the Knicks already are exploring sign-and-trade options involving David Lee that would import a point guard to run the pick-and-roll with Stoudemire; sources say New York has had such discussions with Utah, Toronto, Houston, Golden State and Charlotte. The Warriors have been amenable to a swap that would send Monta Ellis to the Knicks, and the Bobcats could offer Raymond Felton.

The biggest wild card in the Knicks' rapidly evolving plan is Carmelo Anthony, who has yet to commit to the Nuggets' three-year, $65 million extension offer. Sources close to Anthony believe that he ultimately will re-up with Denver, but acknowledge that he's intrigued by the free-agent movement this summer and the opportunities it could create for him to join a championship-ready team as an unrestricted free agent in 2011. The Knicks also have explored trade possibilities for Spurs point guard Tony Parker, but to this point have been rebuffed.

apparently they are holding a press conference at 6:30pm to announce! What channel? MSG?