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Source: Jeremy Lin to ink offer sheet

Updated: July 6, 2012, 12:46 PM ET
ESPN.com news services

Jeremy Lin has verbally agreed to sign a four-year offer sheet with the Houston Rockets on July 11, according to a source close to the talks.

The four-year deal is worth $28.8 million, with $10.2 million coming in the first two seasons and over $9 million in each of the last two. The fourth season is a team option.

The Knicks would have three days to match the offer after Lin, a restricted free agent, signs.

The Knicks repeatedly have said they plan to keep Lin.

"They ...

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