New York Knicks officially sign Raymond Felton; Signal parting of ways with Jeremy Lin – NBA News
On Monday, the New York Knicks officially announced that they had agreed to a sign and trade deal with the Portland Trail Blazers for the services of point guard Raymond Felton. However, they did not announce any decision on the
fate of restricted point guard Jeremy Lin, who has been offered a three year contract by the Houston Rockets worth $25 million.
Lin has signed the offer sheet and the Knicks have till 11:59 pm on Tuesday night to match the offer if they want to retain him.
USA Today has reported that the Felton deal is for three years worth $10 million. He played for the Portland Trail Blazers the previous season, where he averaged 11.4 points per game and lost his starting position for a brief period
of time. However, the Knicks favour him a lot because he spent the 2010-2011 season with them and averaged 17.1 points and 9 assists per game, while developing a great chemistry with Knicks forward Amare Stoudemire. Felton was traded to the Denver Nuggets
that very season as part of the blockbuster trade that brought Carmelo Anthony to New York.
With Felton officially signed, many people are expecting the Knicks to pass on the option of re-signing Lin. He signed a three year $25 million offer with the Houston Rockets, a deal which will see him earning $5 million in the
first year, $5.225 million in the second year and a whopping $14.8 million in the third year.
If the Knicks match the offer, they will be in steep salary cap trouble by the time Lin’s third year starts, with big contracts of Anthony, Stoudemire and Tyson Chandler already on the books. Also, there is a feeling in the Knicks
management as well as locker room, that Lin is not worth the kind of money he has been offered. Anthony yesterday called Lin’s contract “ridiculous”.
The Knicks received Felton and Kurt Thomas in the trade with Portland, and sent Jared Jeffries and centre Dan Gadzuric to the Trail Blazers in return.
After claiming for weeks that the Knicks would match Lin’s offer, they are now looking at other options. The signing of Felton is said to be a replacement for Lin and with Jason Kidd already signed onto the team; the time for Linsanity
seems all but done.
Lin played last season for the New York Knicks and started in 25 games after the Knicks roster was depleted with injuries. He fully utilized the opportunity given to him by scoring at least 20 points in 9 of 10 straight games and
led the Knicks to a 7-0 winning streak which brought them back into playoff contention.
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