Source: Lin Signs Rockets Offer Sheet
It’s your move, New York Knicks.
Jeremy Lin has signed a three-year offer sheet with the Houston Rockets, according to a source close to the talks. The deal is worth a little more than $25 million — $5 million in the first year, $5.225 million in the second year and $14.8 million in the third year. The Knicks have three days to match the Rockets’ offer.
Initial reports had the Rockets offering Lin a four-year deal for around $28 million. That deal included salaries of more than $9 million in each of the last two years, which would be a big hit on the Knicks’ cap. Still, the organization seemed intent on matching.
“They will match any offer on Lin up to $1 billion,” a source told ESPN.com’s Marc Stein last week.