Jeremy Lin Considering Offer From Rockets
Jeremy Lin has received a four-year offer sheet from the Houston Rockets worth a little over $30 million, according to sources close to the situation. Lin, who is a restricted free agent, met with Rockets brass today and will consider signing the offer sheet in the coming days.
The contract will be backloaded and structured similarly to the “poison pill” deal that Houston offered to Chicago Bulls’ restricted free agent Omer Asik. Lin would make $5 million in year one, $5.2 million in year two and then his salary would increase significantly in years three and four, according to sources close to the situation.
The 23-year-old point guard can officially sign the offer sheet on July 11, when the league’s moratorium ends. Once Lin puts pen to paper, the Knicks will have three days to match the offer sheet.
If the Rockets land Lin, they’ll be able to average the cost over the life of the contract. However, if the Knicks match the offer sheet, they’ll have to pay the actual salary year-to-year, which means starting in year three they would likely be repeat luxury tax offenders since they’ll already owe $61,537,876 to Carmelo Anthony, Amar’e Stoudemire and Tyson Chandler.
Lin will continue weighing his options. He has also received interest from the Toronto Raptors, Dallas Mavericks and Brooklyn Nets, according to sources. Lin had a brief stint with the Rockets during the 2011-12 season before being waived.
Last season, Lin started 25 games with the Knicks, averaging 18.2 points, 7.7 assists and 2.0 steals.