BREAKING NEWS: Wednesday, July 18 -- Maxwell Ogden
As the clock strikes midnight, it has become official that the New York Knicks will not match the Houston Rockets' offer sheet to Jeremy Lin. As a result, the point guard sensation has completed the most shocking move of the 2012 period of free agency as he joins the Houston Rockets.
Ian Begley of ESPN New York has the story.
The Houston Rockets fill a major void at the point by signing Lin. Although costly, this could be a deal that pays dividends in the end.
BREAKING NEWS: Tuesday, July 17 -- Joel C. Cordes
It comes as only a slight surprise, after plenty of reports claiming that this would happen, but it appears as if the New York Knicks really are walking away from Jeremy Lin.
According to Howard Beck of the New York Times, the Rockets are being allowed to heist Lin away:
Raymond Felton and Jason Kidd will now be the point guards for the Knicks, while Lin becomes the first major free agent the Rockets have landed all offseason.
- Content for this update provided by Bleacher Report's Offseason Free Agent tracker.
Update: Sunday, July 15 -- Justin Welton
So much for Linsanity in New York.
According to Marc Berman of the New York Post, New York won't match Houston's offer to Jeremy Lin after trading for Raymond Felton.
Lin joins a Rockets team still eyeing a possible Dwight Howard trade down the road. Potentially building around Lin and Howard would be a wise move for Houston.
We'll see if they go that route in the near future.
But for now, let the Linsanity era begin in Houston.
Update: Saturday, July 14 -- Maxwell Ogden
Much to the surprise of the NBA community, it appears as if Jeremy Lin may be Houston-bound after all. Marc J. Spears of Yahoo! Sports has the story.
While anything is possible, it's very unlikely that the Knicks opt to bring Lin back at this point. The financial constraints may be too much for the Knicks to handle and the final year of Lin's contract could push New York too far beyond the Luxury Tax for James Dolan to accept.
Let the wait begin.
Update: Friday, July 13 -- Maxwell Ogden
If you can't get enough of the offseason drama, be grateful for Jeremy Lin. A day after Lin claimed he was indeed happy with the New York Knicks, the global superstar made it clear that business will always remain business.
This puts both the Houston Rockets and New York Knicks in a precarious position. Should either miss out on Lin, the quality of their point guard play would be shaky at best. So who will win the race for Lin?
Update: Thursday, July 12 -- Joel C. Cordes
The New York Knicks have made it clear for awhile now that they plan on matching Jeremy Lin's offer from the Houston Rockets. While they have yet to officially do so, here's further proof of their intentions via head coach Mike Woodson:
Update: Saturday, July 7 — Joel C. Cordes
Though Jeremy Lin has agreed to his four-year deal from the Houston Rockets, the New York Knicks will break the bank to retain their cash cow.
His body of work is incredibly small, but Lin was the story of the 2012 Knicks' season and one of their only players with positive press down the stretch.
Lin's clutch ability and facilitating skills were on clear display prior to his injury. Yet, the Knicks are shelling out a lot of money for a kid who's coming back from a knee problem, has only started 25 games for them and who had a huge turnover issue already.
Still, the Knicks will pay the cash to chance rebooting Linsanity in 2013. They did take out a reasonable insurance policy by also bringing veteran Jason Kidd aboard.
Once more, the Rockets are left holding the bag after taking a big gamble. Having lost Goran Dragic and Kyle Lowry, Houston must figure out what their point guard Plan D is now that Jeremy Lin isn't their's either.
Update: Thursday, July 5 at 8:22 PM EDT — Maxwell Ogden
The Houston Rockets have made a ground-shaking decision to trade Kyle Lowry to the Toronto Raptors. This move is expected to make room for Lin to join their franchise and lead the team into battle. As a result, David Aldridge of NBA.com reports that the global star has signed an offer sheet with those very Houston Rockets.
Unfortunately for the Rockets, it's not believed that they'll walk away with Lin's services. Kurt Helin of NBC Sports breaks it down in sarcastic terms that we all can understand. He also crushes the hearts of every Rockets fan who had hoped to see Lin in their uniform.
What Helin was getting at is that the New York Knicks will match any offer. They clearly feel that Lin is their franchise point guard and are ready to support him in whatever financial way they must. Marc Stein of ESPN.com confirmed that.
Jeremy Lin appears to be heading back to New York.
Update: Thursday, July 5 at 5:53 PM EDT — Maxwell Ogden
Just when we thought Jeremy Lin was a humble kid who was thrilled to simply be apart of the NBA, we found out how much of a business this league really is. According to Alan Hahn of MSG's Network, Lin's looking for the big bucks.
The question, at this point, is simple: does Jeremy Lin deserve this much money? Considering how much Lin made the Knicks in merchandise sales, one could argue yes. Unfortunately, Linsanity has died and the 23-year-old is now going to be judged based off of his play in an 82 game season.
Should he fail to lead the Knicks to a postseason run, he'd likely be labeled a bust. The same can be said for any other team he potentially signs with.
So what do they do? Will the New York Knicks match the offer and pay Lin that type of money under their Early Bird Rights? Or will they let him walk? After paying Jason Kidd a solid amount to come in at 39, the team may opt with a lesser name with equal upside.
UPDATE: Thursday, July 5 at 5:53 p.m. ET by Austin Green
Restricted free agent Jeremy Lin has agreed to a deal with the Houston Rockets, according to Jonathan Feigen of the Houston Chronicle.
According to David Aldridge of NBA.com, the offer sheet is for four-years, $30 million.
This is a major (yet unsurprising) development, as perhaps the most popular player in the league could be switching teams. Whenever Lin signs the contract, New York will have three days to match the offer, which they intend to do, according to ESPN's Marc Stein.
Although he was brilliant in spurts, Lin only started 25 games last season, averaging 15.6 points and 6.2 assists per game. Still, the Knicks are desperate to keep him, not just for his production, but his status as a marketing goldmine.
"Linsanity" was a legitimate global phenomenon last season, and the Knicks clearly realize how valuable he is to their organization. He is a fan-favorite, an icon for Asian-Americans and he's a good young point guard as well.
Losing him would be devastating to both their roster and their public perception, so it's not surprising that they will match this offer.
We will have more updates for you whenever they come in, but for now, it looks like the Rockets' efforts will not be good enough.
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It appears that Jeremy Lin is one step closer to giving the New York Knicks a somewhat difficult decision.
According to Yahoo! Sports' Adrian Wojnarowski, Lin is still working on a deal with the Houston Rockets:
While New York would be able to match, it wouldn't be cheap. The Rockets are apparently putting together an offer that would given Lin a large sum of money in the final two years of a four-year deal.
So, while it would start off at around $5 million in each of the first two years, that figure could roughly double in years three and four of the deal. While New York can technically match–and may indeed opt to do so–it would be costly for a club that already has tons of salary on its books.
According to Al Iannazzone of New York Newsday, Jeremy Lin has made his intentions known. The New York Knicks now have three days to save themselves from losing their franchise point guard.
This comes in an offseason in which the Houston Rockets have lost both Kyle Lowry and Goran Dragic. Should they miss out on Lin, the Rockets' 2012 season could be considered lost.