Reports: Jeremy Lin officially signs offer sheet with the Rockets
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| Jeremy Lin has signed an offer sheet with the Rockets. (Getty Images) |
New York, you are now on the clock to continue the Linsanity.
The Rockets have signed Jeremy Lin to an offer sheet for three years, $25.1 million, according to multiple reports. The contract would pay Lin $5 million in year one, $5.22 million in year two and jump all the way to $14.898 in year three.
Originally, it was reported Lin's offer would be for four years, $28 million. The fourth year was an option year for $9.3 million. Instead, this new offer adds extra dollars on for that final season.
The Rockets hope that the "poison pill" final year would discourage theKnicksfrom matching. With that backloaded contract, the Knicks' payroll could reach $90-plus million in 2015, right when the NBA's new extra punitive luxury tax will bite.
The Knicks have three days to match the offer, which they are expected to do. Coach Mike Woodson has already said Linwould be the Knicks' starting point guard. That would be kind of difficult if he were playing for the Rockets.
Most expect the Knicks to wait the full three days to match as it will tie up the Rockets cap until that happens. Hopefully, Lin doesn't take offense to that likehe reportedly did with the Rockets offering him a deal before New York did.
This means the Rockets are going to whiff yet again in free agency and be left without a point guard on the roster. After trading Kyle Lowry to Toronto and watchingGoran Dragicwalk to the Suns in free agency, the Rockets are sitting without an NBA point man on the roster.
There are options on the market with players like Raymond Felton remaining, but it has to be disappointing. Regardless, the Rockets' main focus is on chasing Dwight Howard and surely they expected the Knicks to match on Lin.
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