Jeremy Lin signs the Houston Rockets offer sheet; New York Knicks have three days to match – NBA News
The Houston Rockets have lived up to their end of the deal with restricted free agent Jeremy Lin by officially signing him to a three year contract worth a little more than $25 million.
Of the $25 million, $5 million will be paid to Lin in the first year, $5.225 in the second and $14.8 million in the third and final year. Initially, the Rockets had offered Lin a four year contract worth $28 million with Lin making
around $9 million in each of the final two years.
The New York Knicks have said on multiple occasions that they are going to match any offer that Lin receives. Knicks Head Coach Mike Woodson particularly likes Lin and earlier said that Lin would be his starting point guard for
next season.
But it is now time for the Knicks to put their money where their mouth is, as they have 3 days to match Lin’s offer or lose him to the Rockets. The Knicks are already tight on salary cap space and with the third year of Lin’s contract
worth $14.8 million, they are sure to land in luxury tax threshold if they sign Lin. They now need to make a decision about how to proceed in this scenario.
The Rockets have also been involved in talks with the Orlando Magic for a trade involving Dwight Howard, and are planning to use their amnesty clause on forward Luis Scola in order to create cap space to absorb not only Howard,
but also some bad contracts that the Magic are looking to get rid of.
Lin made $788,000 in salary last season with the Knicks. He was a bench player in the team who had hardly been used throughout the season. But after the Knicks roster was depleted with injuries in February, Lin was given the chance
to start the game and took the opportunity to shine and become a worldwide sensation.
Lin scored at least 20 points in 9 out of 10 straight games and led the Knicks to a 7 game winning streak. He finished the season averaging 14.6 points, 6.2 assists and 3.1 rebounds per game while playing 35 games, 25 out of which
he started. His dream season came to an abrupt ending when he had to undergo surgery to repair a torn cartilage in his knee, sidelining him from the rest of the season. He missed the end of the regular season as well as the playoffs, but is expected to return
well in time for training camp.
The final destination for Lin will be clear within the next three days, when the Knicks decide either to match the Rockets offer and retain Lin, or let him go.
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