HOUSTON, TX - JULY 19: Jeremy Lin of the Houston Rockets speaks to the media as he is introduced during a press conference at Toyota Center on July 19, 2012 in Houston, Texas. Lin has signed a three year $25 million dollar contract with the Houston Rockets. (Photo by Bob Levey/Getty Images)

Jeremy Lin 'Excited' About Being With Houston Rockets

Jeremy Lin met the media to begin his time in Houston

  • Live
26 Total Updates since July 17, 2012
  • Important 19
  • Updates 26
  • All Updates 26

Linsanity 2012: Scott Machado Not Impressed By Jeremy Lin

As a Knicks fan, former Iona guard Scott Machado was tuned into Linsanity this past season because the Knicks were winning and it was exciting period for the franchise. But he wasn't enamored or overly impressed with the new sensation in New York.

Nope. And now, having gone undrafted last month but with an opportunity to make the Houston Rockets team, Machado could find himself backing up Lin this season with all the uncertainty at point guard in Houston. Machado played for the Rockets' summer league squad and was subsequently invited to training camp.

Here are his comments, via the New York Daily News:

"I feel like Jeremy Lin is a good player - nothing against his game - but I want to show my talent and be able to play there as well," Machado said. "If I have to sit behind him for a little while then that's fine, but hopefully one day I'll be starting for an NBA team."

Read more on the Knicks at Poasting and Toasting and SB Nation New York. Also, be sure to check out our dedicated NBA hub page for news and analysis around the league.

Continue

Jeremy Lin Statement: Time With Knicks Was 'Best Year Of My Life'

The magical relationship between former New York Knicks point guard Jeremy Lin and New York City basketball fans reached its conclusion Tuesday, when its NBA franchise decided to not match the three-year, $25.1 million offer of the Houston Rockets. On Wednesday, the 23-year-old phenom released an official statement thanking the organization and its fans.

"I loved this past year with the Knicks and truly appreciate the opportunity that New York gave me. The way the fans fully embraced me and our team was something I'll always cherish forever. It was an extraordinary and unforgettable time that was easily the best year of my life. Now I am excited to be back with the Rockets. They made a very compelling pitch in terms of what I could bring to the team and for the city. I am also impressed with Mr. Alexander and the management's commitment to improving the team. I'm excited about contributing to the Rockets winning tradition and competing with my new teammates."

For the second time in his career, Lin will play for the Rockets who will pay him about $15 million in 2014-15.

Read more on the Knicks at Poasting and Toasting and SB Nation New York. Head over to The Dream Shake blog and SB Nation Houston for reaction to the Rockets signing Jeremy Lin. Also, be sure to check out our dedicated NBA hub page for news and analysis around the league.

Continue

Jeremy Lin Reaction: Songs, Surprise, Sadness

Everyone has an opinion on what happened between Jeremy Lin, the New York Knicks and the Houston Rockets, a free-agent drama that has ended with Linsanity rocketing off to Texas to join Houston. Here is some of what is being said in the wake of this development -- an unfortunate one from the perspective of Knicks fans.

Of course, Lin's departure has already been memorialized in song. From the folks at NOC videos comes 'Jeremy That I Used To Know.' Kudos to Huffington Post for the find.

"Jeremy Lin That I Used to Know" Song Parody (via NOC)

Jeremy Lin’s Departure to Houston Already Costing Knicks Money - Bloomberg
The New York Knicks decision to let guard Jeremy Lin sign a free-agent contract with the Houston Rockets is already costing them money.

The Knicks didn’t match Houston’s three-year, $25 million offer by yesterday’s deadline for Lin, a Harvard University graduate and the first Chinese- or Taiwanese-American to play in the National Basketball Association.

One-year sponsorships with Taiwan-based Maxxis International, a tire manufacturer, and Acer Inc. the fourth- largest computer maker, ended after a season in which Lin averaged 14.6 points and 6.2 assists in 35 NBA games with the Knicks. His clutch shooting and passing made him an international sensation and inspired the catchphrase "Linsanity."

"We are definitely interested in a sponsorship with the Houston Rockets," said Matt Clark, marketing manager for Maxxis International, USA. "We are a Taiwanese-based company and not only are we excited about Jeremy Lin and the exposure he is getting throughout the U.S., but he is huge over in Asia."

Jeremy Lin’s departure a surprise to ex-coach, teammates - BostonHerald.com
Mike D’Antoni was there for the start of Linsanity, Kobe Bryant on the wrong end of its greatest highlight.

Neither imagined next season opening without Jeremy Lin on the New York Knicks.

"No. Not when the kicker was they can match. I’m thinking, for sure," said former Knicks coach D’Antoni on Wednesday before the U.S. Olympic team practiced. "Even when I was there, well at least we got him, we don’t have to worry about him blowing up and us not being able to afford it."

Ultimate Rockets " From across the pond, more praise for Lin
Carmelo Anthony and Tyson Chandler, now two former teammates of Jeremy Lin, said they are going to miss their former teammate who became a Houston Rocket on Tuesday.

"I know the Knicks organization wanted him back, I know his teammates wanted him back, I felt like Jeremy wanted to come back, but can’t pass up what Houston threw out there," Chandler told the Associated Press in Manchester, England, where he is working out with the U.S. Olympic team.

"Houston threw something in the game that was kind of crazy," Anthony said of the Rockets’ restructured offer sheet that would have cost the Knicks nearly $30 million in the third year of the deal in salary and luxury tax.

Dolan Breaks Faith With Knicks Fans Again - NYTimes.com
By officially cutting the Knicks’ ties to Jeremy Lin late Tuesday night, James L. Dolan flunked the faith test he administered to his ticket-buying fan base just a little more than a year ago.

Lin and Out: Knicks Decline to Match Rockets' Offer Sheet (via sbnation)

Continue

Jeremy Lin Free Agency: New York Knicks Are Frustrated With Houston Rockets

The New York Knicks organization clearly isn't OK with the way the Houston Rockets negotiated that "ridiculous" deal for Jeremy Lin. As it's been reported, the Knicks declined to match the Rockets offer to Lin, a $25.1 million deal with $14.8 of that coming in the final season.

Sports Illustrated's Sam Amick explains the Knicks' frustration, since they appear to believe this was a flagrant offer:

The root of the Knicks' frustrations with the Rockets, sources said, was the fact that they broke what is seen as an unspoken rule in negotiations by changing an informal offer during the moratorium that ran from July 1 to July 11. Houston initially offered Lin a three-year, $19.5 million deal, and those figures were widely reported after it was put forth.

Read more on the Knicks at Poasting and Toasting and SB Nation New York. Head over to The Dream Shake blog and SB Nation Houston for reaction to the Rockets signing Jeremy Lin. Also, be sure to check out our dedicated NBA hub page for news and analysis around the league.

Continue

Jeremy Lin Decision: New York Knicks Won't Keep Point Guard

The New York Knicks on Tuesday night confirmed that they will not match the Houston Rockets' offer for Jeremy Lin, meaning the curtains have closed for Linsanity on Broadway. The point guard will officially join the Rockets on a three-year, $25.1 million contract. Newsday's Al Iannazzone reported the Knicks' confirmation on Twitter.

The 23-year-old would've been a steal at $5 million in the first two years, but a guaranteed salary of $14.9 million in the third year of the deal wasn't something the Knicks were comfortable doing. Ultimately, it would have forced the Knicks to pony up substantial dollars in luxury-tax penalties -- between $30-40 million -- if they had decided to match. Houston designed the contract structure in order to discourage the Knicks from matching, and it certainly worked, even against a big-spending team like New York.

Madison Square Garden chairman James Dolan had the final say, and ultimately it seems like the decision was that the point guard was too expensive in the third year -- and wouldn't be worth it value-wise, either.

Now the Knicks will enter the 2012-13 season with Raymond Felton and Jason Kidd manning the point guard position, veterans at this stage of their careers who certainly won't bring the excitement -- or skill set -- to New York that Lin did.

Lin, who was claimed off of waivers from the Golden State Warriors at the end of December, spent 26 of his 35 games with Knicks as their starter. He averaged 14.6 points and 6.2 assists on the year, one that ended with season-ending surgery on a torn meniscus in his left knee.

Continue

Jeremy Lin Decision: NY Times Report Says Knicks Won't Match

Jeremy Lin will reportedly be a member of the Houston Rockets. Howard Beck of the New York Times is reporting via Twitter that the New York Knicks will not match the three-year, $25.1-million offer sheet Lin recently signed with the Rockets.

Here is what Beck wrote in his complete report for the Times:

The Knicks are not expected to announce their decision until this evening, and there is still a chance — albeit incredibly small — that it could be reversed. But as of 4 p.m. the decision had been made and was considered final by those with knowledge of the deliberations. Indeed, the deliberations were said to be over.

There had been much speculation as to what the Knicks would do with the young point guard, who spawned the 'Linsanity' craze last season when he came from the end of the Knicks' bench to star for a period of about a month after having been released by two other NBA franchises, including Houston. Lin is one of few Asian Americans to ever play in the NBA, and his heritage, personality and fearless style of play spawned what seemed like a world-wide craze.

Lin ended up averaging 14.6 points and 6.2 assists per game for the Knicks last season.

[SB Nation: Jeremy Lin Headline Puns, Really Bad Headline Puns]

The contract with Houston included a $14.8 million salary in the third year, which would have forced the Knicks to swallow a devastating salary cap hit.

This is sure to be a decision that angers Knicks's fans, if the results of our poll are any indication.

SB Nation's Posting and Toasting is "heartbroken" over the news:

I think this sucks a lot. As a fan, I'm heartbroken. As an objective analyst of basketball things (or at least someone who tries to be that sometimes), I think the Knicks are making a mistake. Even if Lin amounts to nothing, it has been thoroughly demonstrated that New York had nothing to lose but cash-- not flexibility, not the chance to add somebody else of equal caliber-- in matching. The "poison pill" could have been obviated. All New York had to lose was straight cash, which is something they've have had no problem squandering pretty much right up until today.

Whatever the case may be, best of luck to you in Houston, Jeremy, and thank you for everything. You were almost single-handedly responsible for the best two weeks of my life as a basketball fan.

Stay here for more reaction to the news as it filters in.

Continue

Jeremy Lin Rumors: CBA's 'Stretch Provision' Could Sway Knicks Into Matching Rockets

As the deadline for the New York Knicks to match the Houston Rockets contract offer to Jeremy Lin quickly approaches, speculation is running rampant about what the Knicks front-office brass and owner James Dolan will decided by 11:59 p.m. ET.

Of course, the biggest issue being debated is whether or not Lin, who has played well is just about 26 NBA games, is worth the $30-plus million that will cost the Knicks in the final year of the three-year contract. Some believe Lin isn't worth it, while others believe he is.

Regardless of the mass opinions, the biggest question is: If Lin turns out to be a bust, can the Knicks afford keeping him considering they have to pay big-time contracts to Carmelo Anthony, Amare Stoudemire and Tyson Chandler?

The answer is yes, and the explanation comes from ESPN.com insder Larry Cook, who explained the new Collective Bargaining Agreement's "stretch provision":

If worse comes to worst, another new rule can help the team out. The "stretch provision" allows a team to waive a player and extend his salary payments over twice the number of remaining seasons, plus one.

So if Lin is waived with one season remaining on his contract, he would be paid his salary over three years. Here's the important part -- teams also may elect to stretch a waived player's salary-cap hit over the same number of years. So if Lin proves to be a disaster over the next two seasons, the Knicks can waive him, stretch the payment of his $14.8 million salary over three years, and reduce his salary-cap amount to about $4.9 million in each season.

This would reduce the team's tax bill significantly. If the Knicks are right at the tax line, a $4.9 million salary would translate to a $7.35 million tax bill. This is much more palatable.

In sum, Lin will continue to be a financial bonanza if he keeps playing up to his potential. If he ends up being a bust, the Knicks have the means to mitigate the damage. The potential upside is well worth the risk.

In the end, if money isn't going to be that much of an issue, as Cook explains, will Dolan decide keeping Lin is what's best? Only speculation can be made until the deadline, but Cook's explanation could make those Linsaity fans breath a bit easier.

-- See Posting and Toasting for reaction to this development with the Knicks

Continue

Jeremy Lin Free Agency: Carmelo Anthony, 'I Would Love To See Him Back'

The Jeremy Lin deadline for the New York Knicks is quickly approaching, and in an effort to possibly save face, after commenting Sunday that the Houston Rockets three-year, $21.5 million contract offer to Lin was 'ridiculous', star forward Carmelo Anthony tried to clarify his initial comments and admitted he wants Lin back in New York (via the New York Daily News).

"I hope we can get it done, man," Anthony told CBSsports.com after Team USA beat Brazil, 80-69, in Washington. "I would love to see him back. Honestly, I would definitely love to see him back. But knowing the business of basketball, it’s kind of a tough situation for both parties."

Anthony, who's preparing for the 2012 Olympic Games with Team USA, didn't back-track on his thoughts on Lin's apparent deal, which will play him about $15 million in 2014-15. Because of the NBA's luxury tax, the Knicks would need to spend over $30 million in the third season.

"It was ridiculous for them to do what they did as far as throwing that out there and making it tough on us to sign him back," Anthony said. "That’s why it’s called free agency, though."

Melo' also told the media, he knows Lin wants to be back in New York and the backlash about his initial comments on the Lin situation was predictable.

"I always get backlash; it’s nothing new," said Anthony.

The Knicks deadline to match the Rockets' offer is Tuesday at 11:59 p.m. ET.

-- See Posting and Toasting for reaction to this development with the Knicks
Continue

Jeremy Lin: What They're Saying As Deadline Approaches

The New York Knicks have until 11:59 p.m. ET Tuesday to decided whether or not to match the three-year, $25-million contract offer Jeremy Lin has signed with the Houston Rockets. As the clock ticks, here is some of what is being said on the Inter-Google about the situation.

There Is a Petition to Keep Jeremy Lin a Knick -- The Sports Section
It's got quite a bit of support over a short period of time, too.

Silliest of NBA summers continues as Rockets, Knicks battle over Jeremy Lin - Sam Amick - SI.com

If the Knicks decide to match Houston's three-year, $25.1 million offer sheet to Lin by Tuesday's apparent 11:59 p.m. deadline (more on that later) despite having agreed to acquire Raymond Felton on Saturday, then the point guard whose exciting 25-game stretch last season sparked all of this madness would be set to earn a whopping $14.8 million in the 2014-15 season. To wit: Lin -- who would earn a mere $5 million in the first season and $5.2 million in the second -- would make 84 percent of what LeBron James will earn next season (approximately $19 million) and slightly more than Knicks and Team USA center Tyson Chandler is scheduled to make ($14.5 million).

While New York's next move remains to be seen, it's worth noting that Felton's camp did his deal with the understanding that Lin was not likely to be retained.

Jeremy Lin now faces sky-high expectations with a $25 million contract looming - NY Daily News
It’s good being Jeremy Lin. You got a new $25 million contract on the horizon after signing an offer sheet with the Rockets Friday, an ESPY Award and bow tie to boot.

NY Knicks shouldn't match absurd Jeremy Lin offer from Houston Rockets, and shouldn't count Jason Kidd as a mentor after DWI - NY Daily News
If the Knicks are thinking clearly on this one, they will not match the Rockets’ absurd $25 million offer to Lin, officially extended Saturday night to considerable laughter around the NBA. The third year of the deal, at nearly $15 million, is exactly what Lin, a backup-quality player, should be paid over the life of a three-year deal.

Jeremy Lin Knicks Merchandise Could Soon Be 'Worth Virtually Nothing'
If Jeremy Lin leave the New York Knicks, fans will be devastated. Just not as much as the retailers.

Unless the New York Knicks match the Houston Rockets' offer by tomorrow night, Jeremy Lin will be heading west this summer, taking with him a whole lot of money in lost merchandise revenue. If he leaves, retailers across the New York metropolitan area will slash prices on Lin gear, dropping the prices for products like t-shirts and books down to five dollars, Bloomberg reports.

Jeremy Lin Knicks Merchandise Could Soon Be 'Worth Virtually Nothing'
If Jeremy Lin leave the New York Knicks, fans will be devastated. Just not as much as the retailers.

Unless the New York Knicks match the Houston Rockets' offer by tomorrow night, Jeremy Lin will be heading west this summer, taking with him a whole lot of money in lost merchandise revenue. If he leaves, retailers across the New York metropolitan area will slash prices on Lin gear, dropping the prices for products like t-shirts and books down to five dollars, Bloomberg reports.

Rockets GM feeling heat from Lin deal
The Rockets contract offer for Jeremy Lin might not be popular, but it's not ridiculous, either.

For Knicks, match Lin or risk regret if he goes | Fox News
This would have been such an obvious decision in February.

Trash Talk: Knicks must match offer, keep Lin - Sports- NBC Sports
Trash Talk: New York has a choice between a so-so point guard in Raymond Felton and one who might turn out better in Jeremy Lin, which is why the choice is a no-brainer.

J.R. Smith suggests Lin contract would not go over well in Knicks locker room | ProBasketballTalk
There’s a real question now whether the Knicks will match the Jeremy Lin offer sheet from Houston, a three-year, $25 million offer. They have until Tuesday to decide. On one hand there is the fact Lin is not worth that much, he's really not worth the $14.

Continue

Jeremy Lin Rumors 2012: Carmelo Anthony Calls Rockets' Contract 'Ridiculous'

In about three days, restricted free agent Jeremy Lin will become a very rich man. However, it's looking more and more like Lin's new-found riches will not come from the New York Knicks, the organization that gave him a chance to become a phenom.

On Sunday, Carmelo Anthony was asked about Lin's reported three-year, $25.1 million deal from the Houston Rockets and the Knicks' star forward was upfront about his feelings.

"It's not up to me. It's up to the organization to say that they want to match that ridiculous contract," said Melo' (via Rod Boone).

"I'd love to see him back, but I think he has to do what's best for him right now" (via Rod Boone).

Melo's strong opinion came after practicing with Team USA and was mainly aimed at the backloaded aspect of the contract, which will pay Lin almost $15 million a year in '14-15. According to reports, Lin's deal would put New York in a major luxury tax bind.

Not to mention, the Knicks also have Jason Kidd, Raymond Felton and Argentine guard Pablo Prigioni under contract.

-- See Posting and Toasting for reaction to this development with the Knicks

Continue

New York Knicks: Jeremy Lin's Return 'Highly Doubtful' According To Yahoo! Sources

Jeremy Lin's return to the New York Knicks for the 2012-13 season is in serious jeopardy. At least, that's what Yahoo! Sports' NBA writer Marc. J. Spears is saying Sunday via Twitter.

Spears' tidbit came just a few hours after NBA.com writer David Aldridge wrote that the Knicks' acquisition and signing of veteran point guard Raymond Felton to a three-year, $10 million deal could spell the end of the Linsanity era; and before ESPN.com's Stephen A. Smith reported sources inside the organization are telling him that New York will not match the contract offer.

Reports are that the Rockets' three-year offer to Lin, which is backloaded, would cause a lot of financial issues for the Knicks in the next few years.

However, the Knicks letting Lin go isn't a sure thing yet, as New York's front office brass is taking their time on rejecting the deal, leading some to believe things are still trying to be worked out.

-- See Posting and Toasting for reaction to this development with the Knicks

Continue

New York Knicks: Jeremy Lin Could Be Out With Raymond Felton In

Could the Linsanity era really be over for the New York Knicks? That appears to be a distinct possibility after the Knicks made two roster moves Saturday night, acquiring veteran point guard Raymond Felton in a sign-and-trade with the Portland Trail Blazers and deciding not to match Landy Fields' offer sheet from the Toronto Raptors.

According to multiple reports, the Knicks sent Jared Jeffries, Dan Gadzuric and a future draft pick to Portland for point Felton and veteran big man Kurt Thomas. Both players will be in their stints with the Knicks. As Steve Popper of The Bergen Record wrote in his report "nothing sounds quite so absolute in New York."

Knicks coach Mike Woodson had previously said Lin "absolutely" would be back and would be the team's starting point guard.

Lin, of course, became an international sensation with the Knicks last season when he seemingly came out of nowhere to have a brief run of stardom. The Knicks have insisted throughout the offseason that they would match any offer for Lin, but the backloaded three-year, $25.1 million offer from Houston that includes a $14.9 million third year -- and Felton's availability -- might have changed the equation.

Writes David Aldridge of NBA.com:

Felton reportedly signed a three-year, $10 million contract with New York, a hefty deal for someone that wasn’t going to play very much as a third point guard. The Knicks already signed Jason Kidd to a three-year, $9.5 million deal earlier this month, and also have Argentinian guard Pablo Prigioni under contract. Bringing back Lin, the undrafted guard out of Harvard who electrified crowds in New York in a three-week stretch in early February that was quickly dubbed “Linsanity,” seemed a formality. But unless the Knicks are planning to play Kidd much more at shooting guard next season, it would appear they have at least one point guard too many around.

Felton averaged 17.1 points and 9.0 assists, both career highs, for the Knicks in 54 games during the 2010-11 season before being dealt for Carmelo Anthony. He averaged 11.4 points and 6.5 assists per game for Portland last season, shooting just 40.7 percent.

-- See Posting and Toasting for reaction to this development with the Knicks

Continue

NBA Free Agency Rumors 2012: Raymond Felton, Kurt Thomas Traded To Knicks

The New York Knicks have completed a trade with the Portland Trail Blazers to acquire point guard Raymond Felton and center Kurt Thomas in exchange for forward/center Jared Jeffries, center Dan Gadzuric and a 2016 second round pick, according to NYDN's Frank Isola.

The trade comes on the heels of the recent rumors of New York's newfound reluctance to match Jeremy Lin's offer sheet with the Houston Rockets, which will pay him close to 15 million dollars in the final year of the deal as it is constructed. The Knicks already acquired veteran point guard Jason Kidd earlier in the offseason, further spurring speculation that they may actually let Lin walk and instead install a point guard duo of Felton and Kidd.

Felton averaged 17.1 points and 9 assists per game for the New York Knicks in 2010-2011 before being traded to the Denver Nuggets. His stats took a dive last season with the Portland Trail Blazers, as he put up 11.4 points and 6.5 assists in 60 games.

Thomas, meanwhile, averaged 3 points and 3.5 rebounds in 15.2 minutes per game last season. He is also the oldest player in the NBA at 39 years old (40 in October).

For more on the Knicks, please be sure to check out our blog Posting And Toasting.

Continue

Knicks Close To Trade For Felton, Letting Jeremy Lin Sign With Rockets, According To Yahoo!

In what comes as a major surprise just days after the general consensus around the NBA was that the Knicks would re-sign point guard Jeremy Lin at any cost, Yahoo's Marc Spears is reporting New York will let Lin sign with the Houston Rockets and instead complete a sign-and-trade with Trail Blazer Raymond Felton.

On Friday, Lin signed a three year, 25 million dollar contract with the Houston Rockets that was backloaded in the final year of the deal to put extra financial pressure on the Knicks, who have Carmelo Anthony, Amare Stoudemire, and Tyson Chandler signed to long-term contracts. The first two years of the proposed Lin deal would pay him 10.2 million dollars, while the final year would pay upwards of 14.9 million, according to USA Today. If the Knicks matched the offer, they would pay major luxury tax penalties for the foreseeable future.

Even still, it was expected that the Knicks would bring Lin back at any cost. Felton played with New York for 54 games in the 2010-2011 season, averaging a career high 17.1 points and 9 assists per game before being traded to the Denver Nuggets. He struggled on the Blazers last season though, averaging 11.4 points and 6.5 assists per game.

For more on the Knicks, please be sure to check out our blog Posting And Toasting.

Continue

Jeremy Lin Rumors 2012: Knicks "Unhappy" With Offer Sheet Negotiations

The New York Knicks aren't feeling good with the way offer sheet negotiations have gone with their star point guard, Jeremy Lin.

According to the New York Post, the Knicks were furious to find out the Houston Rockets offer has been enhanced to $25 million guaranteed over three years. Further, the Rockets back-loaded the contract, putting New York into a major luxury tax bind should they match the offer.

The deal is set to pay Lin $14.9 million in the third year, making the Knicks responsible for approximately $87 million that year committed to just eight players.

Head coach Mike Woodson can't be thrilled about the situation, but certainly isn't showing any kind of panic when discussing New York's plan regarding Lin.

"I don’t know. Until we get it in hand and Glen [Grunwald, the general manager] is able to evaluate everything, we’ll make a decision," Woodson said.

Houston general manager Daryl Morey is doing whatever he can to re-acquire Lin after letting him go prior to last season. Now it appears the Knicks will have to pay dearly in order to keep Linsanity in town.

For more on the Knicks, please be sure to check out our blog Posting And Toasting along with SB Nation New York for all the latest news and updates.

Continue

Jeremy Lin Free Agency Rumors: Lin Not Happy With Knicks

Jeremy Lin isn't very happy with the New York Knicks right about now.

The overnight sensation feels the team should have offered him a contract before the Houston Rockets put an offer sheet on the table of four years and $28.8 million, according to ESPN.com.

"He was surprised that the Knicks didn't make the first move," a league source said. "They know they've got to mend some fences with him because he believes what the Rockets have told him, that the Knicks weren't as interested as they are."

Lin hasn't signed anything with Houston, but he did verbally agree to an offer sheet. The Knicks can start matching any deal on Wednesday,, which would bring him back to the Big Apple.

"What he has to learn is that it's not personal," the source said. "The Knicks merely played by the rules.''

Whether or not this is a complete non-issue going forward is to be seen. However, New York can't afford any slip-ups going into a season where they expect to be championship contenders.

For more on Jeremy Lin and the Knicks, please be sure to check out our blog Posting And Toasting along with SB Nation New York for all the latest news and updates.

Continue

Jeremy Lin Free Agency Rumors: Knicks To Match Rockets Offer Sheet, According To Report

The New York Knicks are set to match the four-year, 28.8 million dollar offer sheet Jeremy Lin will sign with the Houston Rockets, according to a report from the New York Post's Marc Berman.

Most assumed that the Knicks would match any offer sheet for Lin after missing out on Steve Nash, an a source from Berman's report confirmed those suspicions:

"He's their guy," one NBA official debriefed on the Knicks' strategy said. "They'll match."

The Knicks officially will be presented the offer sheet Wednesday, the day the NBA's free-agency moratorium ends, and will have three days to match it. It should take them three minutes.

While the backloaded deal will push the Knicks further into the luxury cap in the third year of the contract, having a player as marketable as Lin will be able to help offset those costs. Not to mention having the point guard position under contract with Lin and Jason Kidd for the next three years.

For more on the Knicks, visit Posting and Toasting and SB Nation New York.

Continue

NBA Free Agency 2012: Houston Rockets, Jeremy Lin Agree To Terms On Offer, According To Report

New York Knicks free agent guard Jeremy Lin has reportedly agreed to the offer sheet he received from the Houston Rockets (via Adrian Wojnarowski). (via Adrian Wjonarowski). Wojnarowski also reported that the deal is worth $28.8 million over four years. The fourth year is a team option.The Knicks are thought to want to match any offer for Lin.

Wojnarowski is now reporting the terms of a deal that is indeed back-loaded, making this a difficult deal for the Knicks to match.

More from Wojnarowki:

So, Linsanity most likely remains in New York. But it will cost the Knicks dearly to make it happen.

-- For more on the Knicks, please be sure to check out our blog Posting And Toasting and SB Nation New York for all the latest news and updates.

Continue

NBA Free Agency 2012: Houston Offers Jeremy Lin $31 Million Contract

Jeremy Lin's incredible story is about to start a new chapter, a very rich one. The Houston Rockets met with the restricted free agent on Wednesday, and made him a contract offer worth $31 million, according to the New York Post.

The deal is for three years, with a player option for a fourth year. Houston's offer would pay Lin $5 million in the first season and $5.2 million in the second season before the back-loaded money takes effect over the final two years of the deal. Dubbed a so-called "poison pill" offer, the salary jumps to around $10.5 million in the final two years that could create a luxury tax problem for the Knicks in the 2014-2015 season, the third year of the deal.

Houston's offer puts the Knicks in a difficult spot. After losing out on the Steve Nash chase, reports said that New York would match whatever offer Lin received.

The report says that Lin's preference is to stay in New York. The Dallas Mavericks could also try to lure him as well. Houston was one of two teams that cut Lin last year, Golden State being the other, allowing the Knicks to grab him.

-- For more on the Knicks, please be sure to check out our blog Posting And Toasting and SB Nation New York for all the latest news and updates.

Continue

Knicks Free Agency 2012: New York Expected To Match Any Jeremy Lin Offer

On Wednesday, it's expected that Jeremy Lin will sign a significant offer sheet with the Houston Rockets.

It's also fully expected that general manager Glen Grunwald and the New York Knicks will be ready and willing to match anything, according to the New York Post.

The Rockets will supposedly offer a back-loaded contract to Lin, perhaps with $10 million going to the star point guard in the latter years of the deal. The Knicks would be forced to take on a plethora of luxury tax issues, something owner James Dolan doesn't want to deal with.

Howeve, to keep Lin New York isn't going to have much choice. Considering the popularity of Lin and the dearth of point guards on the roster, the Knicks will be painted into a corner.

The Rockets are trying to make a previous mistake right, after letting Lin walk away from the squad before the 2012 season started. Now, New York will have to show Lin some serious love to keep him in the Big Apple.

For more on the Knicks, please be sure to check out our blog Posting And Toasting along with SB Nation New York for all the latest news and notes.

Continue

Jeremy Lin Free Agency Rumors 2012: Brooklyn Nets, Dallas Mavericks, Toronto Raptors Interested

The Brooklyn Nets, Dallas Mavericks and Toronto Raptors are all considering extending an offer sheet to restricted free agent Jeremy Lin, according to a report from Alex Kennedy of HoopsWorld.

The New York Knicks will be able to match any offer Lin receives, so they are likely to be patient as the market dictates his value. Technically, the Knicks could offer Lin at maximum a four-year deal worth $24.5 million, but they are highly unlikely to do that because of their ability to wait and see what offers he receives.


Related: Knicks Scouring Market For Veteran Guards

General manager Glen Grunwald has said the Knicks want to retain Lin, who had a breakout season in 2011-12 (to say the least) with averages of 14.6 points, 6.2 assists and 3.1 rebounds. Lin is a marketing machine for the Knicks, as well as the only real point guard the Knicks currently have.

For more on the Knicks, please be sure to check out our blog Posting And Toasting and SB Nation New York for all the latest news and updates.

Continue
X
Log In Sign Up

forgot?
Log In Sign Up

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior users will need to choose a permanent username, along with a new password.

Your username will be used to login to SB Nation going forward.

I already have a Vox Media account!

Verify Vox Media account

Please login to your Vox Media account. This account will be linked to your previously existing Eater account.

Please choose a new SB Nation username and password

As part of the new SB Nation launch, prior MT authors will need to choose a new username and password.

Your username will be used to login to SB Nation going forward.

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SB Nation New York

You must be a member of SB Nation New York to participate.

We have our own Community Guidelines at SB Nation New York. You should read them.

Join SB Nation New York

You must be a member of SB Nation New York to participate.

We have our own Community Guidelines at SB Nation New York. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.