Jeremy Lin trade rumors have been reaching fever pitch in recent days, and it has now been reported that the New York Knicks have seemingly resigned themselves to losing the star of "Linsanity" to the Houston Rockets. The news appears to have been sparked by an unnamed source who told ESPN's Stephen A. Smith that the Knicks will refuse to match Houston's offer sheet for the point guard.
Other sources have claimed the Knicks are still pondering their final move, however, the high third year price of Lin's contract is seemingly the core sticking point. The Knicks have just two days left to make a final offer to Lin.
Just four days ago Knicks fans were celebrating when head coach Mike Woodson said Jeremy Lin would "absolutely" return to the Knicks as the team's starting point guard next season. Many obviously took that to confirm that it was only a matter of time until the Knicks matched Houston's offer to keep Lin.
Furthermore, just a few days ago another source told ESPN that the Knicks were ready to match Houston's offer sheet up to a "billion dollars." Again sparking a sigh of relief for New York Jeremy Lin fans.
However, the latest reports have turned those rumors upside down, and it now appears as though the Knicks will not be matching the Rocket's offer.
Lin has been offered a three year deal with Houston, with $5 million in the first year, $5.225 million for the second, and a whopping $14.8 million for year three, according to ESPN reports.
The latest news that the Knicks are not planning to match that offer comes after other hints that they were not planning on doing so; they recently signed 39-year-old veteran point guard Jason Kidd, a 10-time All-Star who led the Dallas Mavericks to an NBA championship in 2011. Then on Saturday they signed point guard Raymond Felton and released Landry Fields. Felton's signing immediately sparked rumors that the Knicks were planning to let go of Lin.
The signing of Felton, who played 54 games for the Knicks in the 2010-2011 season, reportedly shocked Lin, who now could be about to sign on with Houston.