This is why the call these types of contracts “poison pills.” If the Knicks match they will have to pay Jeremy Lin over $14 million in the third year. That’s a lot of money for a guy who only started 35 games in his NBA career. Signing that deal could make the Knicks look very foolish if Lin pans out to be just a rotational player.
Rumors close to New York say there is no way the Knicks won’t match.
Last week, it was reported that the Rockets and Lin had agreed on an offer sheet totaling approximately $19 million guaranteed over three seasons, with a team option on the fourth and final season.
The deal was increased to $25 million total over three years, with the final season now nearly $15 million. That final season could cost the Knicks as much as $45 million in luxury tax payments. It is unclear if a team option still exists for a fourth season.
Some believe Houston is now desperate for a point guard after Goran Dragic and Kyle Lowry left the Rockets this summer. But general manager Daryl Morey could still expect the Knicks to match, and he may be more concerned with driving down Lin’s value as a future trade chip in New York’s arsenal.
Read more: http://basketball.realgm.com/wiretap/222306/Rockets_Sign_Lin_To_Larger_Offer_Sheet#ixzz20Y7msxgS