Jeremy Lin: Possible Loss of Star Won't Harm Knicks

The majority of the New York Knicks' fanbase is on red alert after learning that the team may not match the Houston Rockets' three-year deal worth over $25 million for international sensation Jeremy Lin.

According to ESPN's Stephen A. Smith, the Knicks aren't likely to retain the point guard:

"

Jeremy Lin/Knicks are likely no more. Let's talk. Special Edition of Stephen A. Smith Show on ESPN NY (98.7FM) 1pm EST. TODAY.

— Stephen A Smith (@stephenasmith) July 15, 2012"

There is plenty of evidence to support Smith's claims that Lin will not be returning to New York next season.

Raymond Felton is reportedly back in the mix in Madison Square Garden after playing his last 81 games with the Denver Nuggets and Portland Trail Blazers.

Owner James Dolan and Knicks management don't really have the financial flexibility to pay for Lin's services despite being one of the most valuable franchises in the entire NBA.

New York went with a "win now" game plan when it signed Carmelo Anthony, Amar'e Stoudemire and Tyson Chandler to huge deals. If they were to re-sign Lin, they would have invested a whopping $75 million in those four players in the 2014-2015 season.

There's simply no way that a team can be built around those four players with such little monetary wiggle room. Of course, the Knicks have the money to pay the luxury tax, but the tax becomes much more punitive after next season, going from a dollar-for-dollar system to one that forces teams to pay more the higher they go above the cap.

It's common for sports fans to try to rationalize the actions of their favorite teams by highlighting the positives of every iffy transaction, and this Lin situation is no different.

Lin hasn't truly proved himself a good enough player to earn $25 million.

He was a revelation throughout that legendary stretch in February. He changed the course of the Knicks' season, dragging the team kicking and screaming out of a disastrous tailspin.

That was such a small sample size that it's hard to validate giving the 23-year-old California native that type of contract. The Knicks are famous for extending ridiculous contracts to players who haven't produced up to par with their salary.

The Rockets' offer to Lin is exactly that—ridiculous. Even Anthony knows it (per Newsday's Rod Boone):

"

Melo on #Knicks Lin saga: "It's not up to me. It's up to the organization to say that they want to match that ridiculous contract."

— Rod Boone (@rodboone) July 15, 2012"

Anthony is obviously not bashing Lin, but rather the contract that the Rockets have offered him. It's overpriced, back-loaded and just a bad idea.

This could actually turn into a good thing for the Knicks. It's worrisome that Lin has already shown a predisposition to injury. He plays with a ridiculous intensity, and takes a beating every game, but it was a non-contact injury that sidelined him for the end of last season.

Either way, no matter what you want to make of Lin's ability, his value to the Knicks organization and the international popularity of the NBA or his seemingly disappearing role in the Knicks' future plans, his new contract is high risk.

Surely the Knicks will miss him at times, but his prospective departure bodes well for the Knicks' future. At least Knicks fans can take consolation in the fact that the future roster will be in better shape without Jeremy Lin.