The alleged investors, who identified themselves to The New York Post through phone calls and e-mails as working for Union Bank Suisse, gave their names and claimed they were trying to sign him to a multi-million dollar sponsorship contract that can be parlayed into a deal with the Real Madrid basketball club.

Marbury said he returned calls and e-mails from the investors Saturday.

"They're phonies, it's a hoax," said Marbury.

More real is Marbury's hope the Knicks will take action in the coming days and grant his release, though Players Association attorney Hal Biagas is out of town. Donnie Walsh said last week he is "open to negotiations." Walsh last talked to Biagas last Thursday.

Meanwhile, a representative of the alleged investors have called The Post, The Associated Press and the The New York Times dozens of times over the past five days to promote their plan of Marbury playing for Real Madrid with a marketing deal worth 12 million Euros.

They also have claimed Walsh spoke to Real Madrid president Ramon Calderon about the scenario in which the Knicks only would have to pay Marbury a small portion of the contract. It was all a farce. Walsh has said repeatedly he has had no contract with Real Madrid.

News » Marbury: European negotiations a hoax
Marbury: European negotiations a hoax
While banished from the Knicks, Stephon Marbury was pursued relentlessly by a pair of alleged Swiss bankers claiming to have connections to Real Madrid. Marbury, after discovering their intricate plot was a hoax, was considering turning over information to law-enforcement officials about the contact. More from the New York Post Yankees using Reggie to woo CC Serby: Opponents will dare Eli Vecsey: McHale needs to win More from The New York Post