Lin to visit Rockets on Wednesday, sources say
New York Knicks restricted free agent Jeremy Lin will visit the Houston Rockets on Wednesday, sources said.
New York Knicks restricted free agent Jeremy Lin will visit the Houston Rockets on Wednesday, sources said.
While both Lin and the Knicks are hoping for a reunion, sources have said that if any clubs offer Lin a backloaded contract that pays him an eight-figure salary in the third and fourth years, the Knicks could be hesitant to match the offer.
With the new collective bargaining agreement employing a more punitive luxury tax beginning in the 2013-14 season, the Knicks are concerned about the financial ramifications of such a deal. The Knicks can offer Lin a four-year deal worth $24.5 million. But another team can offer Lin a poison pill that could go as high as $40 million over four years. Such a contract would pay Lin $5 million in each of the first two years and then go as high as $15 million in each of the last two years.
Matching such a contract would give the Knicks four players -- Lin, Carmelo Anthony, Amare Stoudemire and Tyson Chandler -- making more than $14 million in the 2014-15 season. Those four players alone would have a combined salary of $72 million, nearly $2 million above the luxury tax. While it may be doubtful that a club goes as high as $15 million in a season for Lin, even if one offered Lin roughly $10 million in the third and fourth years of a contract, the Knicks would be cautious about matching, according to a source. The Toronto Raptors, Dallas Mavericks and Brooklyn Nets have also expressed interest in Lin, according to sources, though he is a backup plan for each of the clubs. The Knicks have said they plan to let the market dictate Lin's value, so they have not offered him a contract. With the ability to match any offer he receives, they plan to wait and see what Lin commands as a free agent.
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