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.

X
Log In Sign Up

forgot?
Log In Sign Up

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,

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

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.