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Jeremy Lin Reaches Agreement With Rockets on Contract, AP Says

July 5 (Bloomberg) -- Jeremy Lin reached an agreement with the Houston Rockets on a contract, the Associated Press reported.

Lin was offered a deal worth $10.2 million over the first two years and $9.3 million in the third year, AP said, citing an unidentified person with knowledge of the deal. A team option on a fourth year is also worth $9.3 million, the report said.

Houston waived Lin in December after the Golden State Warriors let go the undrafted guard from Harvard University. The 23-year-old was then picked up by the New York Knicks and rose to prominence after taking over the running of the Knicks offense in February.

Knicks coach Mike Woodson and General Manager Glen Grunwald have said they plan to keep Lin, who averaged 14.6 points and 6.2 assists in 35 games, including 25 starts, before his season ended because of surgery to repair torn knee cartilage.

National Basketball Association free agents can’t sign a contract until July 11. The Knicks then have three days to match the Rockets offer.

Knicks spokesman Jonathan Supranowitz declined to comment in an e-mail. Rockets spokesman Nelson Luis didn’t immediately respond to an e-mail seeking comment.

To contact the editor responsible for this story: Dex McLuskey at dmcluskey@bloomberg.net

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