Rockets Offer Jeremy Lin 3 Years $25 Million, Knicks Dont Match

[key2win]

Jeremy Lin accepts Rockets' $29 million offer; Knicks likely to match - Yahoo! Sports

Knicks already said they will match it. Nice going Houston. LOL!

Jeremy Lin has agreed to sign a four-year, $28.8 million offer sheet with the Houston Rockets, league sources told Yahoo! Sports.

The New York Knicks have vowed to match any offer Lin receives to keep him. The earliest Lin can officially sign the offer sheet is July 11. The Knicks would have three days to match or let him join the Rockets.

Houston's four-year offer to Jeremy Lin includes a team option in the fourth year. He would make $5 million in year one, $5.2 million in year two and $9.3 million in each of years three and four. The back-loaded offer is designed to hit the Knicks hard on the luxury tax.

[gladdyontherise]

Atleast the Rockets would get the Knicks over the luxury tax, lol

[key2win]

[leiber88]

Really causes the knicks some problems. I bet they amesty amare in Lin's year 3 to avoid the luxury tax.

[key2win]

I could be wrong, but I think this year is the last year for all teams to amnesty a player based on the new CBA rules. Knicks will never amnesty Amare.

[ocanseco55]

Can't see the Knicks letting him go..

[leiber88]

amnesty is still available past this year. also, with stoudemire's knees his fourth year was going to be a struggle anyways (that's why the suns didn't resign him). No way the team can keep him, Lin, Carmelo, and Chandler on their salaries duing the poison pill year. The luxyry tax hit will be enormous.

[key2win]

Remember when James Dolan/Isiah Thomas had the Knicks payroll something at like $138 million (when half that salary were for players they bought out to play for other teams). Cant remember all the names, but something along the lines of like Penny Hardaway, Steve Francis, Clarence Weatherspoon, Howard Eisley, Shandon Anderson, etc. LOL! I dont think Dolan cares about the luxury tax.

[key2win]

Source -- Jeremy Lin signs three-year offer sheet with Houston Rockets - ESPN New York

Watch the Knicks and Bulls let Lin and Osik go to Houston. Then their whole Dwight plan is doomed. LOL!

Jeremy Lin has signed a three-year offer sheet with the Houston Rockets, according to a source close to the talks. The deal is worth a little more than $25 million -- $5 million in the first year, $5.225 million in the second year and $14.8 million in the third year. The Knicks have three days to match the Rockets' offer.

Initial reports had the Rockets offering Lin a four-year deal for around $28 million. That deal included salaries of more than $9 million in each of the last two years, which would be a big hit on the Knicks' cap. Still, the organization seemed intent on matching.

[key2win]

The Knicks and Rockets are currently disputing when Jeremy Lin's offer sheet was delivered to New York.

Houston contends that it was delivered on Saturday and that the Knicks have until midnight on Tuesday to match Lin's offer sheet.

The Rockets spent most of Saturday trying to deliver the offer sheet in Las Vegas to Knicks' GM Glen Grunwald.

Reports indicated that the offer sheet was eventually delivered to the Knicks' New York offices via courier and thus started the timeline up to Tuesday's deadline, the involved teams are now sending mixed signals as to whether or not that is the case.

[leiber88]

Finally Dolan got some sense into and cares about luxury tax. It'll be interesting to watch this thing play out.

[key2win]

New York Knicks plan to not match Jeremy Lin's Houston Rockets offer, report says - ESPN New York

Carmelo is going to get a lot of heat now considering he spoke out about the contract Lin received. Not very smart move. He should have just kept quiet. LOL!

The New York Knicks plan to let Jeremy Lin join the Houston Rockets and as of 4 p.m. ET have decided not to match the offer sheet the point guard signed with Houston, The New York Times reported Tuesday, confirming what two sources within the Knicks organization had told ESPN's Stephen A. Smith on Sunday.

The Knicks have until 11:59 p.m. ET Tuesday to announce their decision whether they will match Houston's three-year, $25.1 million offer sheet or let the Rockets have Lin, who became an international phenomenon during a dazzling February.

The Times reported the Knicks aren't expected to announce their decision on Lin until Tuesday evening but that the team's deliberations on Lin's future had ended.

A source told ESPN.com's J.A. Adande the Rockets haven't been notified yet of a decision by the Knicks.

[wheeler281]

I am glad Melo spoke up. Call it like he sees it. Being PC keeps you in the basement.

Very Happy to see there is a team with worse management then the NY Knicks

[ocanseco55]

Looks like I have a reason to collect Lin now

[mrknicks]

*sigh*