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Yes, I know that he didn't play for very long, and that there has to be some reason that other teams cut him, but it is also hard to argue with the stats he put up once he got his chance.
Lin played in 35 games, and started in 25 of them. During that time, he averaged 14.6 points, 6.2 assists, 3.0 rebounds, and 1.6 steals per game.
Lin broke Shaquille O'Neal's record for the most points in his first five career starts with 131 points. Also, since the 1985 season, only 15 players have had at least 20 points and 7.0 assists in six straight games. These include people like Michael Jordan, Allen Iverson and LeBron James. Lin is also one of those 15, and he did it as a rookie.
His replacements on the Knicks' roster are Jason Kidd and Raymond Felton. Kidd is 39, and not getting any younger. He averaged 6.2 points, 5.5 assists, 4.1 rebounds, and 1.7 steals per game last season with the Dallas Mavericks. He also averaged 28.7 minutes of playing time per game, compared to Lin's 26.9 minutes. Kidd also had an interesting run-in with the law this past week, getting himself arrested for DWI.
Felton averaged 11.4 points, 6.5 assists, 2.5 rebounds, and 1.3 steals in 31.8 minutes per game last season. His numbers were down, and there were some complaints about his conditioning.
Lin's numbers, although taken from just a 35 game window, are better than both Kidd's and Felton's. You would also have to say he has more upside, being that he is younger and can still learn more about the game. To me, the stats are what is most important, and he is better than anything the Knicks have. By getting rid of him, they are getting worse, not better.
Keep these numbers in mind during the next few points, and it makes the Knicks' decision look even worse.