Over the weekend, Jeremy Lin signed a three-year $25.1 million deal with the Houston Rockets. The New York Knicks had three days to match that offer to keep Jeremy Lin in New York. During that 3 day time frame, lots of rumors and comments swirled in the media from the Knicks will undoubtedly match the offer to Carmelo Anthony stating “It’s up to the organization to say they want to match that ridiculous contract that’s out there.” Unfortunately for the Knicks, the “poison pill” structure of Lin’s Houston contract ($5 million in the first season, $5.2 million in the second, and $15 million in the third. Looks like his economic degree is coming into play.) would have cause havok to the Knicks salary cap in the third year causing $35 million or more in luxury tax penalties. In addition, the Knicks also signed two other point guards : the aging Jason Kidd, who promptly got a DWI, and Raymond Felton. With the Knicks point guard moves and luxury taxes, the writing was on the wall that Jeremy Lin was not going to return to New York. This piece Sports Illustrated tells the story from Lin’s perspective here.
On his Facebook page, Jeremy Lin states “Extremely excited and honored to be a Houston Rocket again!! Much love and thankfulness to the Knicks and New York for your support this past year…easily the best year of my life. Im forever grateful!”
With Jeremy Lin on the Houston Rockets, you expect their connections to China and Yao Ming to come into play. Undoubtedly, the team will extract more that the contract value from Lin through merchandising, advertising, ticket sales, and TV rights. This game is now a business. Look for Linsanity to his H-Town this fall.
Jeremy Lin Goes to Rockets, NY `Linsanity’ Era Over