The Chicago Bulls are still in the race to sign Carmelo Anthony as reports indicated that the free-agent forward has already narrowed down his choices to two teams.

Stephen Smith of ESPN reported on Friday that Anthony has already turned down the Los Angeles Lakers' four-year, $96 million offer and is now choosing between the Bulls and the New York Knicks.

Knicks president Phil Jackson confirmed that Anthony, who received a maximum five-year offer worth $129 million to stay in New York, has yet to make a decision on where to play starting next season.

If Anthony makes the financial side of a deal as his main deciding factor, the Bulls won't stand a chance against the Knicks because Chicago still have no cap room for a maximum deal.

But if Anthony decides to stand by his previous stance that he will prioritize winning over money, the Bulls are expected to be the favorite to land the 30-year-old superstar, but they will have to facilitate a sign-and-trade deal with the Knicks.

Previous reports indicated that the Bulls can only offer a contract worth a maximum of $17 million in the first year, but Anthony could also receive a maximum deal, but only if the Knicks cooperate in a sign-and-trade agreement.

According to reports, the Bulls are planning to include Carlos Boozer in the possible sign-and-trade to make the deal work.

However, sources said that the Knicks are not sold on acquiring Boozer's $16.8-million expiring deal in a sign-and-trade for Anthony, which could mean that the only way the Bulls can acquire the 11-year veteran is if they can convince the seven-time All-Star to take a pay cut.

If Anthony agrees to a paycut, the Bulls are expected to amnesty Carlos Boozer, and trade several players, including Jimmy Butler and Mike Dunleavy.

Ken Berger of CBS Sports reported on Friday that the Bulls are still waiting for Anthony to make his decision, but they already have trades lined up in case 'Melo' decides to team up with Chicago superstars Derrick Rose and Joakim Noah starting next season.

"Carmelo Anthony's intentions have not been communicated to the Bulls, source says. But Chicago has cap-clearing moves teed up," Berger posted on Twitter.