The people spoke on condition of anonymity because the deals can't be finalized until July 9.
Chandler averaged 10.3 points and 11.5 rebounds while providing a defensive and locker room presence for the Dallas Mavericks last season. The 15-year veteran has averaged 8.8 points and 9.3 rebounds in a career that included stops in Chicago, New Orleans, New York and two one-year stints with the Mavericks.
Knight averaged 13.4 points after being traded to the Suns last season, but was limited to 11 games because of a left ankle injury.
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This story has been corrected to show that Chandler's deal is for four years, not three.
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AP Sports Writers John Krawczynski in Minneapolis and Schuyler Dixon in Dallas contributed to this story.
