New York Knicks Said to Allow Jeremy Lin to Join Houston Rockets

Linsanity is over in New York -- the Knicks will not match the Houston Rockets’ contract offer to point guard Jeremy Lin, according to a person with direct knowledge of the situation who requsted anonymity because the decision had not yet been made public.

The departure of Lin, who averaged 14.6 points and 6.2 assists in 35 National Basketball Association games for the Knicks last season, was probable after New York signed point guard Jason Kidd and re-acquired point guard Raymond Felton in a trade.

The Knicks had until the end of today to decide whether to match Houston’s three-year, $25 million offer -- a back-loaded contract that, under the new collective bargaining agreement would have cost New York $25 million to $35 million more in the final season because of the league’s luxury tax.

Lin, the first Chinese- or Taiwanese-American to play in the NBA, boosted Knicks’ television ratings as well as merchandise and ticket sales after joining the team’s starting lineup on Feb. 6.

The person with knowledge of the situation said Lin had been informed of the decision.

To contact the editor responsible for this story: Rob Gloster at rgloster@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.