CAPTION: Dec 21, 2011; San Antonio, TX, USA; Houston Rockets guard Jeremy Lin (17) drives to the basket while guarded by San Antonio Spurs forward Luke Zeller (40) during the second half of a preseason game at the AT&T Center. The Spurs won 97-95. Mandatory Credit: Soobum Im-US PRESSWIRE

Linsanity Blasts Off: Jeremy Lin Headed To Rockets As Knicks Refuse To Match Offer

Jeremy Lin will play for the Rockets next year, as the Knicks didn't match Houston's contract offer by the deadline.

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26 Total Updates since July 3, 2012
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The Truth About Jeremy Lin

Jeremy Lin became a Houston Rocket this week, and Knicks fans are outraged. The reaction has been ridiculous on all sides, really. But don't let it ruin Jeremy Lin for you.

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Jeremy Lin Explains Decision To Sign With Houston Rockets

Jeremy Lin was assured by nearly everyone at the top of the New York Knicks organization, from head coach Mike Woodson to owner James Dolan, that the he would continue to be an important part of the team for the 2012-13 season. At 11:00 p.m. ET on Tuesday, however, general manager Glen Grunwald called Lin and told him that the Knicks would not be matching the Houston Rockets' three-year, $25.1 million offer sheet.

Lin spoke with SI.com on Wednesday to discuss what happened during one of the offseason's most hotly-discussed free agency signings.

"Honestly, I preferred New York," Lin says. "But my main goal in free agency was to go to a team that had plans for me and wanted me. I wanted to have fun playing basketball. ... Now I'm definitely relieved."

The phone call reportedly lasted just 30 seconds. Grunwald thanked Lin and wished him luck, and Lin returned a kind word towards the Knicks. If Lin feels like he was misled in anyway, he didn't show it. He had nothing to say but nice things to say about New York City, the Knicks and the fans that helped make Linsanity possible.

"I love the New York fans to death," Lin says. "That's the biggest reason why I wanted to return to New York. The way they embraced me, the way they supported us this past season, was better than anything I've ever seen or experienced. I'll go to my grave saying that. What New York did for me was unbelievable. I wanted to play in front of those fans for the rest of my career."

The Rockets, meanwhile, have seemingly embraced Lin with open arms, going so far as to admit they made a mistake when they cut him last December.

For more on the Knicks, visit Posting and Toasting and SB Nation New York. And for more on the Rockets, visit The Dream Shake and SB Nation Houston.

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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.

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Jeremy Lin To Join Rockets After Knicks Decline To Match Offer, According To Report

Linsanity will be relocating to Houston next season. The New York Knicks have decided not to match the three-year, $25 million offer sheet presented by the Rockets, according to Howard Beck of the New York Times. This means that Lin will be a member of the Rockets next season.

The news concludes a bizarre few days in which the Rockets tried everything they could to steal Lin away and the Knicks stalled for time. In an attempt to increase the financial pain the Knicks would suffer if they kept Lin, the Rockets decided to exercise a little-used clause in the CBA that would have escalated Lin's salary to $14.9 million in the third year had the Knicks kept him. The Knicks were upset that the Rockets made this late increase and dodged the official paperwork in an attempt to prevent the three-day window to decide on restricted free agents from beginning. In that time, the Knicks traded for Raymond Felton to replace Lin on the roster.

Lin dazzled the basketball nation by starring in a 35-game sample after bouncing around the fringes of the league, but the Knicks, who already owe a combined $62 million in 2014-15 to Carmelo Anthony, Amar'e Stoudemire and Tyson Chandler, were reluctant to have another high-salaried player on the roster, given the more punitive luxury-tax penalties that exist in the new CBA.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.


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Question At Core Of Jeremy Lin-Knicks Debacle: Why?

The Knicks (who supposedly love Jeremy Lin) and Lin (who supposedly loves the Knicks) could have avoided this whole disaster if only they had kept that meddling Daryl Morey out of the picture. Why didn't they?

The Hook is a daily NBA column by Tom Ziller. See the archives.

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Amnesty Clause: Where NBA Teams Replace Insane Contracts With Insane Contracts

Only in the NBA can a team waive a crazy contract to make enough salary cap space to sign another crazy contract. The Hook looks at how strategic amnesty has led to a spate of massive free agent deals.

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Knicks 'Close' To Sign-And-Trade For Raymond Felton With Blazers, Jeremy Lin Could Join Rockets

The New York Knicks will have three days to match the offer sheet the Houston Rockets have signed Jeremy Lin to. That is, as soon as they get the aforementioned sheet. And the Knicks, by all reports, will do that, bringing back the player who electrified Madison Square Garden and the NBA in the 2011-12 season.

But if they don't? The Knicks may well turn to their last competent, exciting point guard, Raymond Felton. Yahoo!'s Marc J. Spears reports that the Knicks are nearing a deal that will bring Felton back to New York — and that Linsanity's marriage to the MSG crowd may be over.

Spears is far from the only person reporting a Felton-Knicks link: the New York Daily News' Frank Isola and Houston Chronicle's Jonathan Feigen both reported talks happening shortly before Spears reported the potential deal.

Felton played all of 54 games for the Knicks in 2010-11 before being included in the package that pried Carmelo Anthony from Denver. He was excellent in those 54, averaging 17 points and nine assists per game. But it won't be Mike D'Antoni's offense Felton would run in New York in 2012 and beyond, and Felton's lack of conditioning during the NBA lockout limited him as a Blazer in 2011-12.

For more on the Knicks, visit Posting and Toasting and SB Nation New York. For more on the Blazers, check out Blazer's Edge. And for more on the Rockets, visit The Dream Shake and SB Nation Houston.

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Knicks Plan To Match Jeremy Lin's Offer From Houston Rockets, According To Report

The New York Knicks agreed to terms with free agent point guard Jason Kidd on Thursday, but that doesn't mean they're giving up on Jeremy Lin. The Houston Rockets might want the Knicks to do that considering the offer they made to Lin on Thursday, but apparently Linsanity isn't going anywhere.

Quite a few people assumed the Knicks planned to match the offer, but the New York Post's Marc Berman quoted from a source confirming as much for his story on Friday morning.

"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.

Matching the offer will push the Knicks further into the luxury tax during the third year of Lin's contract, but New York apparently believes his on-court abilities and the ability to contribute to off-court marketing strategies will help make up for the luxury tax bill ... and that will almost certainly be the case.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

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Jeremy Lin, Rockets Agree To Terms On Offer Sheet, According To Reports

The Houston Rockets and Jeremy Lin reached an agreement on an offer sheet for the restricted free agent point guard. Lin visited with the Rockets on Wednesday and many expected General Manager Daryl Morey to make a substantial offer. Initial reports indicated that the offer sheet would be for four years and at least $31 million.

Adrian Wojnarowski of Yahoo! sports reports that the offer sheet is a three-year deal with a club option for a fourth. As expected, the four-year deal is backloaded with Lin's salary spiking to more than $9 million in the last two years of the contract. Wojnarowski again with the details of the contract:

Offer sheet for Lin will pay him $5M in year one, $5.2M in year two and $9.3M in years three and again in team option year four, source says.

Despite the agreement on the offer sheet, it is expected that the New York Knicks will match the deal and retain the rights for Lin. One source conveyed the Knicks' adamant wishes to match in no uncertain terms to ESPN's Marc Stein:

The Knicks may have to take a luxury tax hit when Lin's deal increases in the third year, but all indications are that James Dolan and the front office will match the Rockets' offer.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

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NBA Free Agency: Courtney Lee Unrestricted After Rockets Pull Qualifying Offer

In a bit of a surprising move, the Houston Rockets have pulled their qualifying offer from guard Courtney Lee, which will make him an unrestricted free agent.

The Rockets are reportedly hot after free agent point guard Jeremy Lin, and pulling their offer for Lee has some speculating that it's a way to make room for Lin on the roster. It's still possible, though unlikely, the Rockets will try to keep Lee.

Lee should garner plenty of interest on the open market for his services. Originally drafted by the Orlando Magic, Lee was traded to the Brooklyn Nets in a move for Vince Carter, and then part of a four-team deal that sent him to the Houston Rockets. Lee played in 139 games for the Rockets over the past two seasons.

For more on the Rockets, visit The Dream Shake and SB Nation Houston.

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NBA Free Agent Rumors: Jeremy Lin Meeting With Houston Rockets Wednesday

The Houston Rockets, who are suddenly mired in a difficult negotiation for their own free-agent point guard, Goran Dragic, will reportedly explore a well-known alternative. The Rockets will spend their July 4 meeting with New York Knicks restricted free agent Jeremy Lin, according to a report from Jonathan Feigen of the Houston Chronicle.

It would seem unlikely that the Rockets could steal Lin away from the Knicks, but New York general manager Glen Grunewald has decided to let Lin explore his market instead of aggressively trying to keep him. The Knicks have been interested in Steve Nash and had been working on potential sign-and-trade arrangements to land him. That effort took a hit with the Raptors signing Landry Fields, a key cog in a potential sign-and-trade deal with the Suns, to an offer sheet.

While the Knicks would likely want to match Lin, the Rockets could make it difficult by giving Lin a poison pill contract that would cause his contract to escalate in the third year. The Rockets pulled a similar maneuver in giving Chicago Bulls center Omer Asik an offer sheet over the weekend.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

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