Knicks Let Jeremy Lin Go, Refuse To Match Rockets' Offer Sheet

The New York Knicks will not match Jeremy Lin's three-year, $25.1 million offer sheet with the Houston Rockets, a Knicks spokesman confirmed to multiple reporters. Rockets GM Daryl Morey celebrated the decision on Twitter:

New York's decision wasn't a surprise, in part because Morey included a "poison pill" third year that would have forced the Knicks into paying an exorbitant luxury tax. After making a combined $11 million in the first two years of the contract, Lin will make $14.9 million in his third season alone. As the New York Times' Howard Beck previously reported, that sum would have triggered a luxury tax penalty of $35 million or more for the Knicks given their existing payroll commitments.

So instead, Lin returns to Houston. Lin played for the Rockets in the preseason last December before being released one day before the start of the regular season -- and several weeks before becoming a household name with the Knicks. Instead of fighting for a roster spot, he returns with a guaranteed starting job -- not to mention an extra comma on his paycheck and a worldwide following of fans.

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

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 SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. You should read them.

Join SBNation.com

You must be a member of SBNation.com to participate.

We have our own Community Guidelines at SBNation.com. 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.