Rockets reportedly land Lin as Knicks don’t match offer sheet

Jeremy Lin is headed to the Houston Rockets. ASSOCIATED PRESS

HOUSTON — Jeremy Lin is leaving New York and taking Linsanity to Houston.

The New York Knicks announced Tuesday night that they will not match the Houston Rockets’ three-year, $25 million offer for Lin, a restricted free agent.

New York officially had until 11:59 p.m. EDT to decide whether to re-sign Lin, who became an international phenomenon in the media glare of the Big Apple.

The Rockets made it tough for the Knicks to sign off on keeping him by backloading their offer sheet with a $15 million salary in the third season. If the Knicks agreed to that deal, they would have faced a hefty luxury tax in 2014-15 because of other big contracts on their books — between $30-40 million.

Lin now returns to Houston, where he spent about two weeks in December during training camp. The Rockets liked what they saw in the undrafted point guard but had to waive him because they had Kyle Lowry and Goran Dragic on the roster.

The New York Times initially reported the Knicks’ decision, citing an unidentified person briefed on the situation.

One sports consultant said the adjustment to the offer sheet was a stroke of genius by Rockets general manager Daryl Morey.

“The Rockets deserve a lot of credit for the way they’ve gone about this,” said Marc Ganis, president of Chicago-based SportsCorp. “It was extremely intelligent — with an assassin’s touch.”

The Knicks, though, gave Lin his first shot, picking him up after the Rockets waived him. He was briefly demoted to the development league, recalled, and finally got his chance when coach Mike D’Antoni put him in with the Knicks floundering at 8-15. Lin scored a career-high 25 points in a 99-92 win over New Jersey, and “Linsanity” was born.

Lin had slept on teammate Landry Fields’ couch the night before, refusing to get his own place as he headed into that week, knowing the Knicks would have to decide whether to cut him or guarantee his contract for the rest of the season.

But Lin proved more than just an overnight sensation — he had 28 and 23 points in his first two NBA starts.

NBA free-agent winners and losers so far

1 of 9 | Share

NBA free-agent winners and losers so far

The NBA free agency news has been coming fast and furious since July 1 and it figures to stay that way until teams can start making signings official on Wednesday. Here’s a look at some of the winners and losers through Saturday:


Winner, Heat: Ray Allen, the league’s all-time leader in 3-point field goals, is leaving Boston to join the NBA champions. Allen, who rejected a two-year, $12 million offer from the Celtics to take a two-year, $6.3 million deal from the Heat, will be Miami’s 12th player under contract, and the Heat aren’t done. Veteran forward Rashard Lewis will visit Heat headquarters today and has given indications that he would not necessarily be opposed to accepting a $1.3 million minimum contract from Miami. The Heat can add players only to minimum contracts because their $3.1 million exception is going to Allen. (Lynne Sladky / Associated Press)


Winner, Nets: Whether or not they ever add Dwight Howard, they were able to keep All-Star point guard Deron Williams for the move to Brooklyn. (Mel Evans / Associated Press)


Winner, Nets: Whether or not they ever add Dwight Howard, they were able to attract All-Star shooting guard Joe Johnson for the move to Brooklyn. (Rich Addicks / Associated Press)


Winner, Jeremy Lin: Back in December, the Houston Rockets waived a no-name guard making around $700,000 in his second year in the league. Last week, the Rockets helped make him a rich man with a four-year, $28.8 million offer the Knicks are sure to match once they are able to this week. If the calculator is working properly, that’s a pay raise of better than 1,000 percent. (Seth Wenig / Associated Press)


Winner, Elton Brand: Now that the Philadelphia 76ers have waived him, he has a shot at catching on with a title contender. Brand may not become a legitimate 20-10 threat at power forward again like he was in his years with Chicago and the Clippers, but he was as steady and durable as any Sixer the past two seasons. (Jesse D. Garrabrant / NBAE via Getty Images)


Winner, George Hill: The popular former Spurs guard agreed to a five-year deal to stay with his hometown Indiana Pacers. Terms haven’t been disclosed. Without him, the Spurs wouldn’t have obtained Kawhi Leonard in the 2011 draft-day deal, so it’s good to see one of the NBA’s good guys get rewarded. (Michael Conroy / Associated Press)


Loser, Mavericks: After winning the NBA title, they traded Tyson Chandler to the Knicks and started dreaming of the day they would sign Deron Williams and Dwight Howard. Well, Howard decided to stay in Orlando for at least another year before demanding a trade to Brooklyn or elsewhere, and Williams will be a Brooklyn Net after all. Jason Kidd is off to the Knicks. Jason Terry is off to Boston. It looks like Dirk Nowitzki will be playing with Shawn Marion, Roddy Beaubois and three draft picks next season. (Eric Gay / Associated Press)


Loser, Rockets: It will be a surprise if the Knicks don’t match their offer to Jeremy Lin. It looks like they will lose Goran Dragic, whose presence forced them to waive Lin, to the Suns. And Houston will trade Kyle Lowry to the Raptors. That leaves Courtney Fortson and Scott Machado on the roster, so you would assume GM Daryl Morey has his eye on someone else. But they do have first-round draft picks Royce White (from left), Terrence Jones and Jeremy Lamb. (Pat Sullivan / Associated Press)


Loser, Steve Nash: Less than a week after saying he could never see himself putting on a Lakers uniform, Nash asked for and got a trade to the Lakers. Really, it’s the Spurs he could never play for, since they have eliminated him from the playoffs six times. (Ross D. Franklin / Associated Press)

  • Heat Allen Basketball
  • Nets Williams Basketball
  • Wizards Hawks Basketball
  • Union Bird Rights Basketball
  • D058083099.jpg
  • Magic Pacers Basketball
  • APTOPIX Thunder Mavericks Basketball
  • Rockets Draft Basketball
  • Lakers Nash Basketball

The NBA free agency news has been coming fast and furious since July 1 and it figures to stay that way until teams can start making signings official on Wednesday. Here’s a look at some of the winners and losers through Saturday:

WINNERS

Heat: Ray Allen, the league’s all-time leader in 3-point field goals, is leaving Boston to join the NBA champions. Allen, who rejected a two-year, $12 million offer from the Celtics to take a two-year, $6.3 million deal from the Heat, will be Miami’s 12th player under contract, and the Heat aren’t done.

Veteran forward Rashard Lewis will visit Heat headquarters today and has given indications that he would not necessarily be opposed to accepting a $1.3 million minimum contract from Miami.

The Heat can add players only to minimum contracts because their $3.1 million exception is going to Allen.

Nets: Whether or not they ever add Dwight Howard, they were able to keep All-Star point guard Deron Williams and attract All-Star shooting guard Joe Johnson for the move to Brooklyn.

Jeremy Lin: Back in December, the Houston Rockets waived a no-name guard making around $700,000 in his second year in the league. Last week, the Rockets helped make him a rich man with a four-year, $28.8 million offer the Knicks are sure to match once they are able to this week.

If the calculator is working properly, that’s a pay raise of better than 1,000 percent.

Elton Brand: Now that the Philadelphia 76ers have waived him, he has a shot at catching on with a title contender.

Brand may not become a legitimate 20-10 threat at power forward again like he was in his years with Chicago and the Clippers, but he was as steady and durable as any Sixer the past two seasons.

George Hill: The popular former Spurs guard agreed to a five-year deal to stay with his hometown Indiana Pacers. Terms haven’t been disclosed. Without him, the Spurs wouldn’t have obtained Kawhi Leonard in the 2011 draft-day deal, so it’s good to see one of the NBA’s good guys get rewarded.

LOSERS

Mavericks: After winning the NBA title, they traded Tyson Chandler to the Knicks and started dreaming of the day they would sign Williams and Howard.

Well, Howard decided to stay in Orlando for at least another year before demanding a trade to Brooklyn or elsewhere, and Williams will be a Brooklyn Net after all.

Jason Kidd is off to the Knicks. Jason Terry is off to Boston.

It looks like Dirk Nowitzki will be playing with Shawn Marion, Roddy Beaubois and three draft picks next season.

Rockets: It will be a surprise if the Knicks don’t match their offer to Lin. It looks like they will lose Goran Dragic, whose presence forced them to waive Lin, to the Suns. And Houston will trade Kyle Lowry to the Raptors.

That leaves Courtney Fortson and Scott Machado on the roster, so you would assume GM Daryl Morey has his eye on someone else.

Steve Nash: Less than a week after saying he could never see himself putting on a Lakers uniform, Nash asked for and got a trade to the Lakers.

Really, it’s the Spurs he could never play for, since they have eliminated him from the playoffs six times.

The Associated Press, Houston Chronicle and Miami Herald contributed to this report.

NBA free-agent winners and losers so far

1 of 9 | Share

NBA free-agent winners and losers so far

The NBA free agency news has been coming fast and furious since July 1 and it figures to stay that way until teams can start making signings official on Wednesday. Here’s a look at some of the winners and losers through Saturday:


Winner, Heat: Ray Allen, the league’s all-time leader in 3-point field goals, is leaving Boston to join the NBA champions. Allen, who rejected a two-year, $12 million offer from the Celtics to take a two-year, $6.3 million deal from the Heat, will be Miami’s 12th player under contract, and the Heat aren’t done. Veteran forward Rashard Lewis will visit Heat headquarters today and has given indications that he would not necessarily be opposed to accepting a $1.3 million minimum contract from Miami. The Heat can add players only to minimum contracts because their $3.1 million exception is going to Allen. (Lynne Sladky / Associated Press)


Winner, Nets: Whether or not they ever add Dwight Howard, they were able to keep All-Star point guard Deron Williams for the move to Brooklyn. (Mel Evans / Associated Press)


Winner, Nets: Whether or not they ever add Dwight Howard, they were able to attract All-Star shooting guard Joe Johnson for the move to Brooklyn. (Rich Addicks / Associated Press)


Winner, Jeremy Lin: Back in December, the Houston Rockets waived a no-name guard making around $700,000 in his second year in the league. Last week, the Rockets helped make him a rich man with a four-year, $28.8 million offer the Knicks are sure to match once they are able to this week. If the calculator is working properly, that’s a pay raise of better than 1,000 percent. (Seth Wenig / Associated Press)


Winner, Elton Brand: Now that the Philadelphia 76ers have waived him, he has a shot at catching on with a title contender. Brand may not become a legitimate 20-10 threat at power forward again like he was in his years with Chicago and the Clippers, but he was as steady and durable as any Sixer the past two seasons. (Jesse D. Garrabrant / NBAE via Getty Images)


Winner, George Hill: The popular former Spurs guard agreed to a five-year deal to stay with his hometown Indiana Pacers. Terms haven’t been disclosed. Without him, the Spurs wouldn’t have obtained Kawhi Leonard in the 2011 draft-day deal, so it’s good to see one of the NBA’s good guys get rewarded. (Michael Conroy / Associated Press)


Loser, Mavericks: After winning the NBA title, they traded Tyson Chandler to the Knicks and started dreaming of the day they would sign Deron Williams and Dwight Howard. Well, Howard decided to stay in Orlando for at least another year before demanding a trade to Brooklyn or elsewhere, and Williams will be a Brooklyn Net after all. Jason Kidd is off to the Knicks. Jason Terry is off to Boston. It looks like Dirk Nowitzki will be playing with Shawn Marion, Roddy Beaubois and three draft picks next season. (Eric Gay / Associated Press)


Loser, Rockets: It will be a surprise if the Knicks don’t match their offer to Jeremy Lin. It looks like they will lose Goran Dragic, whose presence forced them to waive Lin, to the Suns. And Houston will trade Kyle Lowry to the Raptors. That leaves Courtney Fortson and Scott Machado on the roster, so you would assume GM Daryl Morey has his eye on someone else. But they do have first-round draft picks Royce White (from left), Terrence Jones and Jeremy Lamb. (Pat Sullivan / Associated Press)


Loser, Steve Nash: Less than a week after saying he could never see himself putting on a Lakers uniform, Nash asked for and got a trade to the Lakers. Really, it’s the Spurs he could never play for, since they have eliminated him from the playoffs six times. (Ross D. Franklin / Associated Press)

  • Heat Allen Basketball
  • Nets Williams Basketball
  • Wizards Hawks Basketball
  • Union Bird Rights Basketball
  • D058083099.jpg
  • Magic Pacers Basketball
  • APTOPIX Thunder Mavericks Basketball
  • Rockets Draft Basketball
  • Lakers Nash Basketball

The NBA free agency news has been coming fast and furious since July 1 and it figures to stay that way until teams can start making signings official on Wednesday. Here’s a look at some of the winners and losers through Saturday:

WINNERS

Heat: Ray Allen, the league’s all-time leader in 3-point field goals, is leaving Boston to join the NBA champions. Allen, who rejected a two-year, $12 million offer from the Celtics to take a two-year, $6.3 million deal from the Heat, will be Miami’s 12th player under contract, and the Heat aren’t done.

Veteran forward Rashard Lewis will visit Heat headquarters today and has given indications that he would not necessarily be opposed to accepting a $1.3 million minimum contract from Miami.

The Heat can add players only to minimum contracts because their $3.1 million exception is going to Allen.

Nets: Whether or not they ever add Dwight Howard, they were able to keep All-Star point guard Deron Williams and attract All-Star shooting guard Joe Johnson for the move to Brooklyn.

Jeremy Lin: Back in December, the Houston Rockets waived a no-name guard making around $700,000 in his second year in the league. Last week, the Rockets helped make him a rich man with a four-year, $28.8 million offer the Knicks are sure to match once they are able to this week.

If the calculator is working properly, that’s a pay raise of better than 1,000 percent.

Elton Brand: Now that the Philadelphia 76ers have waived him, he has a shot at catching on with a title contender.

Brand may not become a legitimate 20-10 threat at power forward again like he was in his years with Chicago and the Clippers, but he was as steady and durable as any Sixer the past two seasons.

George Hill: The popular former Spurs guard agreed to a five-year deal to stay with his hometown Indiana Pacers. Terms haven’t been disclosed. Without him, the Spurs wouldn’t have obtained Kawhi Leonard in the 2011 draft-day deal, so it’s good to see one of the NBA’s good guys get rewarded.

LOSERS

Mavericks: After winning the NBA title, they traded Tyson Chandler to the Knicks and started dreaming of the day they would sign Williams and Howard.

Well, Howard decided to stay in Orlando for at least another year before demanding a trade to Brooklyn or elsewhere, and Williams will be a Brooklyn Net after all.

Jason Kidd is off to the Knicks. Jason Terry is off to Boston.

It looks like Dirk Nowitzki will be playing with Shawn Marion, Roddy Beaubois and three draft picks next season.

Rockets: It will be a surprise if the Knicks don’t match their offer to Lin. It looks like they will lose Goran Dragic, whose presence forced them to waive Lin, to the Suns. And Houston will trade Kyle Lowry to the Raptors.

That leaves Courtney Fortson and Scott Machado on the roster, so you would assume GM Daryl Morey has his eye on someone else.

Steve Nash: Less than a week after saying he could never see himself putting on a Lakers uniform, Nash asked for and got a trade to the Lakers.

Really, it’s the Spurs he could never play for, since they have eliminated him from the playoffs six times.

The Associated Press, Houston Chronicle and Miami Herald contributed to this report.