Additionally, the Knicks' plans to pursue Kyrie Irving may be affected by a belief among teams that the Brooklyn Nets are his favored destination if he leaves the Boston Celtics, according to the report.
Irving reportedly plans to opt out of the final year of his current contract before Thursday, paving the way for him to enter unrestricted free agency. Leonard is expected to opt out of his deal before June 30.
Leonard has not been widely linked with New York throughout this year's free-agent rumor mill. The Los Angeles Clippers have been connected to the current Toronto Raptors star, mostly because of their ample salary cap space and the fact Leonard hails from L.A.
The Knicks have been a rumored destination for Kevin Durant, although the future of the Golden State Warriors superstar now appears up in the air after Wednesday's Achilles injury in Game 5 of the NBA Finals.
New York is expected to have two max salary slots in free agency this summer.
Leonard said last week he's not prioritizing free agency as the Raptors pursue an NBA championship.