Carmelo Anthony could find himself traded before the deadline as reports indicated that the New York Knicks and the Chicago Bulls are negotiating for a potential blockbuster deal before the annual trade deadline.

Recent reports suggested that there is "no chance" the Knicks will move Anthony before the deadline, but Hoops Nation, citing sources close to the situation, revealed that the Knicks have been discussing a potential deal with the Bulls over the past few weeks.

The Knicks and the Bulls are reportedly determined to strike a deal in the coming days, but the terms of the deal has yet to be finalized as both teams are still haggling for several key pieces.

"The two sides have been rumored to have interest, but according to this report the talks have already been going on for the past couple of weeks. It will be very interesting to see if the Bulls are able to work out a trade with the Knicks before the trade deadline passes," Hoops Nation noted.

Sources said that the Bulls are planning to package young prospects Jimmy Butler and Tony Snell along with veterans Carlos Boozer and Kirk Hinrich to make the deal work in terms of salary.

The Bulls could also include future first-round picks in the deal in exchange for Anthony, oft-injured guard Raymond Felton, and disgruntled guard Iman Shumpert, who has been on the trading block since the earlier part of the season.

Acquiring Anthony could turn the Bulls' season around and become a serious contender this season. The Bulls have been playing relatively well despite not having injured superstar Derrick Rose, and acquiring Anthony might help them go deep into the playoffs this season.

On the other hand, the Knicks' playoffs hopes will be dimmer without Anthony, but acquiring young assets like Butler and Snell will put them in a better situation moving forward. Butler is having some sort of a breakout season, averaging 12.3 points to go along with 5.0 rebounds per game.

And once the contracts of Boozer and Hinrich expires, the Knicks will have more cap room to sign a superstar in the summer of 2015 in which they are expected to make a strong push to acquire big-name free agents like Rajon Rondo and Kevin Love.