The Knicks sent out in recent days a letter to their season-ticket holders regarding new refund policies with interest ranging from 1 to 2 percent. Cancellation of preseason games occurred last week and potential cancellation of the regular season’s first two weeks was on tap yesterday.

Commissioner David Stern set a deadline to cancel the first two weeks for yesterday, but the two parties engaged in more talks with the union hoping to postpone Stern’s announcement.

The Post obtained a copy of the Knicks’ letter. It said for subscribers on season-ticket payments, the club will not collect any additional payments for the remainder of the “work stoppage.” The letter gives fans a chance to select “the Knicks Loyalty Program” as an option, which keeps the money in their account at 2-percent interest. Fans can also choose an immediate refund for 1-percent interest.