Jeremy Lin leaving New York?

The New York Knicks are apparently letting restricted free agent Jeremy Lin walk to the Houston Rockets after his incredible breakout season.

http://www.nytimes.com/2012/07/18/sports/basketball/knicks-lin-rockets-offer-sheet.html?_r=2&smid=tw-share

Sources have stated that it was purely a business decision to let him leave – the contract Houston offered will pay Lin $14.8 million in 2014-15 (his third season). In the 2014-15 season, the Knicks already have $23.4 million owing to Amar’e Stoudemire, $23.5 million owing to Carmelo Anthony as well as $14.6 million owing to Tyson Chandler.

According to the latest CBA salary tax rules, the Knicks would face over $28 million in tax in the 2014-15 season by having all 4 players on their roster.

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About Eternal Hoops

Sharing basketball news to the world. Game recaps, previews and updates as well!

Posted on July 18, 2012, in NBA Off-Season, Rumours, Signings and tagged , , , , , , , , . Bookmark the permalink. Leave a comment.

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