Sources: Jeremy Lin to visit Rockets
July, 3, 2012
7/03/12
3:32
PM ET
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 restricted free agent, a backloaded contract that pays him an eight-figure salary in the third and fourth years, the Knicks could be given pause about matching the offer.
With the new collective bargaining agreement employing a more punitive luxury tax, beginning in the 2013-14 season, the Knicks are extremely concerned about the financial ramifications of such a deal.
The Knicks can offer Lin a four-year deal worth $24.5 million. But an opposing 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.
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While both Lin and the Knicks are hoping for a reunion, sources have said that if any clubs offer Lin, a restricted free agent, a backloaded contract that pays him an eight-figure salary in the third and fourth years, the Knicks could be given pause about matching the offer.
With the new collective bargaining agreement employing a more punitive luxury tax, beginning in the 2013-14 season, the Knicks are extremely concerned about the financial ramifications of such a deal.
The Knicks can offer Lin a four-year deal worth $24.5 million. But an opposing 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.
Read the full story here »
• To see dozens of NBA rumors, check out NBA Rumor Central
Chris Broussard | email
NBA analyst- Senior Writer for ESPN The Magazine
- Formerly at the New York Times, 1998-2004
- Covering the NBA since 1995
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