Lin Signs Houston's Offer Sheet

Jeremy Lin has accepted a three-year offer sheet from the Rockets with a team option for a fourth season. The deal will pay Lin $5 million Year 1, $5.2 million in Year 2 and $9.3 million in Year 3.

The Knicks are expected to match the offer sheet regardless of the amount.

"They will match any offer on Lin up to one billion dollars," said one source to Marc Stein.

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Papa Pugz said:

not every back-loaded deal is going to have a team option...

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Papa Pugz said:

yea and i was talking about all of them thus far..

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Linsanity is finally reaching proper New York media levels. Its finding it's way into the dark side of NBA rumors.

Jeremy Lin is set to sign a four-year, $29 million offer sheet with the Rockets on Wednesday, something the Knicks will certainly match. It's never really been a question as to if the Knicks would match any offer, and that was known both privately and publicly.

According to the New York Daily News, Lin was a little annoyed/frustrated/surprised/mad at the Knicks because they didn't come out with a contract offer from the start.

"He was surprised that the Knicks didn't make the first move,'' a league source said. "They know they've got to mend some fences with him because he believes what the Rockets have told him, that the Knicks weren't as interested as they are.''
Obviously, who knows who the "league source" that said that and who knows how upset Lin really was. But contract negotiations aren't always pretty and there surely was a little frustration involved along the way.

Naturally, Lin took to Twitter to deny it.

JLin7 Jeremy Lin
Lol why do u guys believe everything? No quotes from me = probably not true

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I'm not sure everyone believed it to start with, but again, that's life in NBA negotiations, especially when you're as visible a player as Lin.

He'll sign his offer sheet, then have the Knicks match and things will be back to normal as he returns to New York's starting five.

Or as normal as things can be for Jeremy Lin.

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The Rockets have reportedly dropped a bombshell, greatly increasing the third-season salary in the offer sheet signed by Jeremy Lin on Friday.

Last week, it was reported that the Rockets and Lin had agreed on an offer sheet totaling approximately $19 million guaranteed over three seasons, with a team option on the fourth and final season.

The deal was increased to $25 million total over three years, with the final season now nearly $15 million. That final season could cost the Knicks as much as $45 million in luxury tax payments. It is unclear if a team option still exists for a fourth season.

Some believe Houston is now desperate for a point guard after Goran Dragic and Kyle Lowry left the Rockets this summer. But general manager Daryl Morey could still expect the Knicks to match, and he may be more concerned with driving down Lin's value as a future trade chip in New York's arsenal.

Chris Paul is eligible to hit the free-agent market next summer and a package centered around Lin, under more reasonable contract terms, could have enticed the Clippers to trade the All-Star point guard to New York. Inflating Lin's contract terms will make him less attractive to the cost-conscious Donald Sterling, keeping Paul on the path to free agency and in play for Houston as it seeks to remake its roster.

These maneuverings may set up the Rockets' longer-term strategy of acquiring Dwight Howard and keeping the All-Star center in Houston by pairing him with an elite play-maker like Paul.

The Knicks will have three days to match the deal or lose Lin to Houston. New York clearly intended to match under the offer-sheet terms originally reported.

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