Jeremy Lin Signs Offer Sheet; Knicks Have Time to React

The , however, had not received the offer, and will have until Tuesday to match the deal. They will probably take their time before the 72-hour deadline expires, a process most N.B.A. teams use to make the offering team wait while they try to get under their own salary cap.

The Rockets backloaded the third year of the contract to discourage the Knicks from matching it. Lin will make $5 million and $5.2 million the first two years but $14.9 million in the third year.

Lin agreed to sign the offer sheet more than a week ago after a meeting in Houston. The Rockets first offered a four-year deal worth $28.8 million. The fourth year of that deal was the Rockets’ option, which put the true commitment at only $19.5 million.

Earlier this week, Coach Mike Woodson said the Knicks would match Houston’s offer. Woodson also said Lin would be the Knicks’ starting point guard.

With that knowledge — and the fact that the Rockets could wait and use the moratorium on signings to restructure their offer — Houston decided to put pressure on the Knicks by increasing the salary for Lin’s third year.

In the original offer, the Rockets forced the Knicks to match a third-year salary of $9.3 million. Houston now hopes the added $5.6 million in the third year will affect the Knicks’ decision to keep Lin, a person briefed on the negotiations said.

What is clear is that both the Knicks and the Rockets feel they need Lin, who averaged 18.2 points and 7.7 assists in 25 games as a starter last season.

Houston lost Goran Dragic, who started 28 games, to the Phoenix Suns. The Rockets also traded Kyle Lowry to Toronto for a potential lottery pick, clearing salary-cap space with the hope of adding Dwight Howard.

If Lin remains with the Knicks, their 2014-15 roster will have four players — Carmelo Anthony Amar’e Stoudemire, Tyson Chandler and Lin — making a combined $77 million.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.