Rotoworld reports the 39-year-old Allen is scheduled to undergo MRIs on Thursday to determine the health of his knees.
It's not a given the 10-time All-Star's knees will prove to be in serviceable shape: Allen has faced knee injury before, and his former teammate with the Miami Heat, Rashard Lewis, had his week-old contract with the Dallas Mavericks voided Wednesday by the team when a physical revealed his knees needed surgical repair.
The Houston Rockets were also thought to be in contention for Allen's services, but recent reports indicate Allen is particularly attracted to playing with James.
source: si.com