12/13/2013 14:01 EST | Updated 02/12/2014 05:59 EST

Kyle Lowry trade nixed by Knicks boss: report

It looks like Kyle Lowry will be staying with the Toronto Raptors — for now.

The Raptors had reportedly planned to ship the 27-year-old point guard to the Knicks in exchange for a package including Raymond Felton, Metta World Peace and either Iman Shumpert or Tim Hardaway Jr., or a 2018 first-round draft pick.

However, the New York Daily News reported that the deal was nixed by Madison Square Garden chairman James Dolan, who had soured on the exchange after details were leaked to the media.

Dolan is reportedly weary of negotiating with Raptors general manager Masai Ujiri, whom he believed got the better of him when Ujiri was in charge of the Denver Nuggets and traded Carmelo Anthony to the Knicks.

Lowry, who can become a free agent at the end of the season, is in the midst of a revitalized campaign, averaging 14.6 points a game and 6.7 assists.