Report: The End Of (NYC) Linsanity?

HANG TIME HEADQUARTERS – It appears we’ve seen the last of Jeremy Lin in a Knicks uniform.

The New York Times is reporting that Knicks’ brass has made their decision and they will not match back-loaded the three-year, $25.1 offer sheet from the Houston Rockets that Lin signed over the weekend.

The Knicks have until just before the stroke of midnight to make up their minds, but according to Howard Beck of The Times, they’ve all but made their decision:

The Knicks are not expected to announce their decision until this evening, and there is still a chance — albeit incredibly small — that it could be reversed. But as of 4 p.m. the decision had been made and was considered final by those with knowledge of the deliberations. Indeed, the deliberations were said to be over.

The Knicks have first-refusal rights on Lin and by rule have until Tuesday at 11:59 p.m. Eastern time to either match the offer or let him walk.

The decision was ultimately financial, not emotional, according to people briefed on the deliberations. The contract with Houston includes a third-year balloon payment of $14.9 million, which would have cost the Knicks another $35 million or more in luxury-tax penalties had they matched the deal. The so-called poison pill was designed to dissuade the Knicks.

The decision ends two weeks of suspense and speculation, which began when Lin became a restricted free agent on July 1. Now will come the inevitable backlash.

Lin saved the Knicks’ season in February and instantly became their most popular player in a decade, as well as a global phenomenon. Fans started at least two online petitions to keep him last weekend when it became apparent the Knicks were leaning toward letting him go. Twitter, blogs and fan forums have been filled with anguished comments for days.

Whatever outrage there is New York will be met with cheers from Houston, where the Rockets have been searching for a face of their franchise since Yao Ming retired.

Lin proved in his 25-game starting stint on Broadway that he had the chops for the job under the brightest of media spotlights. In Houston he’ll have to prove that there is substance behind the hype.

If his debut was any indication, the next three years should be a wild ride … on Rockets fans will enjoy from the front row and one Knicks fans will have to watch from afar, wondering what might have been had the franchise matched that offer.

33 Comments

  1. said it before say it again says:

    If the knicks do not become a top 4 seed in the east, hell if they do any worse than the rockets at any stage of the season AND then if they don’t get something like a round 2 WIN, then you watch how fast EVERY FAN TEARS THAT FRANCHISE APART!!!!!
    AND U CAN BET UR A$$ that EVERY SINGLE NBA FAN, WRITER, AND HIS MONKEY will change their opinions cause they dont have a clue whats going to happen, LIKE ALWAYS, and throwing away a star like Lin could most likely be something people get sacked and traded for. AGAIN. I still have the image of your so called number one fan, spike lee parading about in Lin’s old jersey.

  2. Rick says:

    Just more proof they don’t know what they are doing in New York. Lin was the best thing that’s happened in New York basketball for years. Mello ia a ball hog, not a team player. You’ve seen it all year. Without Melo and Amare in the line up they won. It would have been nice to see Lin and Amare play without Melo for 10-15 games. they could have meshed similarly to Amare and Steve Nash. But no you blew that up. Melo is a me, me, me guy. He will not share the ball with Amare. I would bet anything in Melo’s mind he has to be the leading scorer even if he has to take 40 shots. I like others will not support the Knicks any more. The bean counters will be the first to notice the huge drop in Knicks gear sales. Put that on the weigh scales (merchandise sales vs Lin’s salary). You blew it.

  3. bey krews says:

    they will never be a title contender with selfish and defenseless players like Melo,JR and amar’e
    they made a good move acquiring JKidd and Felton but these 3 will never sacrifice playing without the ball.
    playoff contender but will never get past the semis.

  4. Richard says:

    They made the correct decision this is about business baby it ain’t personal.

  5. SKNICKERS says:

    NOT STILL A TITLE CONTENDER, EVEN WITH THIS NEW LINE UPS, THEY STILL CANT OVERTAKE MIAMI, CHICAGO, OR EVEN BOSTON PERHAPS, ATLANTAS LINE UPS IS QUIET DECENT, MAYBE THEY WILL TAKE NO. 3 OR 4, 5 SPOT IN THE EAST,

    THEY SHOULD HAVE TRADED AT LEAST MELO OR STOUDEMIRE BECAUSE THEY COULD NOT CO-EXIST, THE OTHER GUY IS A BALL HOG SO AS THE OTHER,

  6. Hank says:

    Stupid NYK and Dolan!!! Will never watch NYK game.

  7. tito canillas says:

    WHOEVER TEAM SIGNS LIN WILL SURELY WORTH IT…….

  8. Josh says:

    Also with Lin at the Rockets i don’t think he has what it takes to be a Western conference player as everyone knows that the west is always the harder fought conference and i don’t think Lin can make anything of it.

  9. Ricardo4L says:

    Knicks have no loyalty to any of their players. It all began with the dumb trade to get MELO. No we must hear the same old song as always ” They’re still leartning to play together.” Whats the point if the Knicks only know how to let great players go. I say Landry, Lin and Jefferys are better off. Cant wait to see the Rockets, Trailblazers and Raptors beat the Knicks. The coach always hated that TRIO too.

  10. FACE THE FACTS says:

    What a shame!

    Lin and NYK will both lose on this one! Houston is a mediocre team in the tough, wild West and he wont carry them alone. Maybe they make the playoffs but that’s about it!
    And the Knicks would have had a tough time even with him to go past Miami in the East. He seemed the one to glue them and handle their Egos and offence…now I think they are doomed! No title for NYC for a long time…

    Shame, a sad love story going to waste because of fearful and bad management…

  11. RyU says:

    NY would have been better off trading Melo for some descent back up players and just matching Lin’s offer… NY would never be considered a real team if Melo remains a ball hog.. much more will it be a champion team whatever lineup they come up with..

  12. Jen says:

    I’m excited for the Houston Rockets. I’m actually going to watch as many Rockets games that I can. Congratulations, Jeremy! I am so glad you are not going back to the Knicks. You’re such a positive role model and do not deserve the negative drama. Just be yourself and enjoy your experience in Houston– you deserve it!

  13. Eric says:

    Three years, $25 million, plus another $35 million in luxury tax, and the Knicks are looking at investing $60 million in a guy that started a third of one season. Lin’s productivity isn’t worth that much. The question is whether or not his name and persona is worth the money. The Knicks didn’t think so.

    • Acc says:

      Why do people think that it’s Lin that’s causing all of the luxury tax? Luxury tax applies when the team as a WHOLE go above the limit. The fact that three years from now is a long time from now, the Knicks should not worry about it because they can move around salaries and players to limit the amount of luxury tax that they are paying. In three years, it’s not even guarantee that Melo, Amare, Chandler will all still be part of the Knicks team. If the Knicks were serious on keeping Lin, they should match it and take the risk. The Knicks can trade Lin next year if stuff doesn’t work out. They are giving up a potential star and a decent PG who Kidd can help mentor and coach.

  14. Gino says:

    Lin is the best thing happened to NY in the last decade, believe it or not. You should take care of rare and precious things… Why NY left Lin “explore” the free agents market in the first place?

  15. rich says:

    Well done HOUSTON, Lin has arrived! That’s what you call check mate,for NYK!

  16. trade1 says:

    great move by the knicks.. with or without Lin and the ridiculous 3rd yr contract, they will not get anywhere near a championship.. I like this move which will allow them to get a real all star caliber player, plus flexibility if you need to trade melo or amare…

    knicks finally make a great choice.. linsanity will be over next year after he plays an entire season and he has numbers just like an average point guard should… good luck to lin in houston, but new found respect for the knicks not going with the nonsense about off the court money… last thing i know of in nyc is they want a championship which by the way is nearing 40 years since the last… yikes…

  17. robert zimmerman says:

    The Knicks screw this up!
    Dolan will be sorry.

  18. NightTimeInTelAviv says:

    If this is really it for Jeremy Lin in New York, then take note of Cablevision’s share price tonight, as it will be changing FAST. The Knicks are not just letting one Jeremy Lin go – they are letting the one man who could make them WINNERS leave. Along with many millions of fans who started following the Knicks ONLY because of him. Here’s one basketball fan who follows WINNERS, and who will start rooting for Houston from now on. Because that’s where the HEART is going. This is where YOU sent the ONLY leader you had for over a decade. Enjoy Carmelo and Amar’e’s egos and… yeah… the luxury tax THEY are inflicting on you. Championship? Are you kidding me? Those who choose ego over heart will fail at the time of test. It was amazing in MSG while it lasted. And it lasted exactly up to the first moment you could screw it up. Not a second later. Some basketball franchise you are…. Now, to end on a positive note: GOOD LUCK JEREMY. You are probably better off playing for Kevin McHale than for the (maybe solid, but not so bright) Woodson. Wishing you a stunning success in Houston! Anyone who knows a winner when they see one, knows you ARE one. Now go and play for Houston – give them years to remember!

  19. ricardo silva says:

    I think that they will lose more money by not rehiring him because of publicity. Furthermore, why did they let him test the market they could have gotten him back for less money. Also, I remember when Walt Bellamy was traded and many thought it was a mistake but then it was Red Holzman handlling things and they got Dave Debusshere. I hope I am wrong but they are making a mistake, Lin was something fresh but unfornately for some people money is everything and that is the way it goes.

    Rick (an oldie Knick fan)

  20. Krespino says:

    The Knicka are managed very poorly. They do not deserve Lin. Knicks not matching Lin offer will be beneficial for Lin and the Rockets.
    One day The Knicks management are saying Lin will be their starter, they will match any offer for him, another day they are choosing to rely on an out of shape Felton and a 40 years old player who should have retired already… The Knicks are doomed to be losers in the couple of years they are stuck with the big contracts, and Melo’s boring selfish game.

  21. Melo says:

    Lin is overrated

  22. jahjah says:

    first!

  23. john says:

    nooooooooooooooooooooooooo!

  24. lederman says:

    nice move Lin.. =D

  25. BYOUNG407 says:

    PG – Kidd
    SG – Shumpert
    SF – Anthony
    PF – Stoudemire
    C – Chandler

    Bench – Felton, Smith, Novak, Thomas, Camby

    They’ll Be FINE Without Lin, If Anything Sign & Trade Lin To Rockets For Future Draft Picks & A Better Back Up PF If Possible. For Only 5 Wks Lin was Good But Not A Sure Star. NY Knicks Made Him A Star So Get Something In Return For Your His Lucky Services !!

    • BYOUNG407 says:

      Less Carmelo Isolation Plays Also And Back To More Stoudemire Pick & Roles !!! IDC About Woodson Offense Be Smart Let Stoudemire Do What HE Does Best !

  26. Jim says:

    Never underestimate the stupidity of James Dolan.

  27. b1harlem says:

    ONCE AGAIN CLEARLY THE KNICKS OUT SMARTED THEMSELVES WITH THE STRATEGY OF ASKING J LIN TO GET A OFFER FROM SOMEWHERE/SOMEONE ELSE .AND THEY WOULD MATCH .. NOW THAT THERE IS INTEREST FROM SOMEONE ELSE ..HE ISN’T WORTH IT ??? THEY CHANGE THE DEAL (HOUSTON) WAS J LIN AND HIS FOLKS SUPPOSED TO TELL HOUSTON NOT TO OFFER MORE MONEY?….PLEASE!!! AND I DON’T THINK IT IS FINANCIAL …NEW YORK IS THE BIG TOWN ..IT SAYS HERE THEY HAVE THE CASH PERIOD …OH PRIDE IS A HELLUVA DRUG

    ITEM LAST…FOR THE RIDICULOUS NOTION THAT HE IS BEING OVER PAID ..YOU ARE WORTH WHAT EVER THE BOSS IS WILLING TO PAY YOU…AT THE VERY LEAST

  28. John says:

    Linsanityyyy

  29. two says:

    The expectations for Lin are so incredibly high now that whatever Lin may do, he will always disappoint quite a few people.

  30. Elijah says:

    If he stays healthy, and is well coached it should be a good deal for the rockets.. just don’t know about Mc.Hale as his coach lol.. George Karl would be better.. (as he is great with developing young talent) but all and all should be exciting at the least to watch!