Linsanity to Head to Houston?
Knicks unlikely to match Lin's $25M offer from Rockets
By Mark Russell,  Newser Staff
Posted Jul 16, 2012 4:14 AM CDT
Jeremy Lin of the New York Knicks looks to be leaving the team, as Houston has offered the hot young player a big contract.   (Getty Images)
camera-icon View 1 more image

(Newser) – Just months after setting New York on fire with his dynamic play—not to mention his inspiring pun potential—Jeremy Lin could be leaving the Knicks, reports the New York Times. The Houston Rockets have offered Lin a hefty $25 million, three-year contract that could force the Knicks to let go of the electric point guard. The big problem is the third year of the deal, during which is Houston set to pay Lin $14.8 million; for cap purposes, Houston's offer works out to $8.4 million a year. But if the Knicks match it the team would get charged the full amount in the third year and therefore get slammed by the NBA's new luxury tax, resulting in a salary and tax payout as big as $60 million.

Lin is the most popular Knick in a decade and fans are freaking out. The team has until 11:59pm tomorrow to make up its mind; but as the team recently signed aging point guard Jason Kidd and traded for Raymond Felton, another point guard, on Saturday, it certainly looks like it doesn't intend to sign Lin. Even Knicks star Carmelo Anthony didn't exactly offer much support for Lin. "It’s not up to me," said Anthony. "It’s up to the organization to say that they want to match that ridiculous contract." Kidd, who signed a three-year, $9.5 million deal with the Knicks on Thursday, was arrested for drunk driving early Sunday after crashing his SUV into a pole, reports the New York Daily News. He suffered minor injuries in the crash.