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Source: Lin signs offer sheet

7/13/2012

It's your move, New York Knicks.

Jeremy Lin has signed a three-year offer sheet with the Houston Rockets, according to a source close to the talks. The deal is worth a little more than $25 million -- $5 million in the first year, $5.225 million in the second year and $14.8 million in the third year. The Knicks have three days to match the Rockets' offer.

Initial reports had the Rockets offering Lin a four-year deal for around $28 million. That deal included salaries of more than $9 million in each of the last two years, which would be a big hit on the Knicks' cap. Still, the organization seemed intent on matching.

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