The New York Knicks appear to be ready to challenge and renew their rivalry with the two-time-defending-champion Miami Heat.

With the 24th pick in the 2013 NBA Draft, the Knicks selected shooting guard Tim Hardaway Jr., son of former Heat point guard, Hardaway Sr. In the late 1990's, the Knicks and Heat shared many famous playoff battles that featured two of the game's best with Hardaway Sr. for the Heat and Allan Houston for the Knicks.

Now Houston, currently the Knicks' assistant general manager, has a chance to groom the younger Hardaway.

"I think the wound has healed for Allan," Knicks general manager Glen Grunwald told the New York Times. "I know Allan is excited about this, too. Hopefully, Allan can add something to his development because they are similar players."

The Knicks were not the only team looking to make big strides towards competing with the Heat. The Brooklyn Nets, whose Barclays Center home stadium, hosted the draft, have had an eventful offseason thus far.

On draft night, the Nets traded five players and three future first round picks to the Boston Celtics for Kevin Garnett, Paul Pierce and Jason Terry. Then, two picks prior to the Knicks first round choice, the Nets drafted center Mason Plumlee out of Duke University. The team also recently hired former Nets great Jason Kidd as their head coach.

With the sharpshooting Hardaway Jr. expected to sign a rookie contract soon, the Knicks can now focus their attention on J.R. Smith, who could demand a lucrative contract after an impressive season.

Hardaway Jr. is a six-foot-six-inch shooting guard with great athletic talent and great shooting and scoring abilities. At Michigan University, he set the single-season record for three-pointers by a freshman. In his junior year, he and fellow guard Trey Burke, led the team to the NCAA National Championship game where they lost to Louisville.

"We were impressed with [Hardaway Jr.'s] interview," Grunwald said. "We were impressed with his shooting, his athleticism and his overall demeanor."