Jeremy Lin Rumors: Knicks Will Hit Luxury Tax If Linsanity Signs Rockets Offer Sheet

Jeremy Lin has a decision to make. Does he do something that will undoubtedly secure his financial future, or does he reject it and stay with the franchise that gave him a chance to become a phenomenon on the court?

It's clear the Knicks are ready to match any offer sheet that's thrown at Lin. But the Houston Rockets are going very high. So high that they might very well force the Knicks to hit the luxury tax. Adrian Wojnarowski of Yahoo Sports has more on the subject.

Houston's multiyear offer to Jeremy Lin includes back-loaded money designed to hit the Knicks hard on the luxury tax, sources close to Lin said. The Rockets' offer comes as the Phoenix Suns reached agreement with Goran Dragic on a four-year, $30 million contract. The Rockets stopped bidding on Dragic, refusing to go as far as the Suns did.

The Knicks have publicly and privately indicated they plan to match any offer for Lin.

The luxury tax is not a good thing for the Knicks, who could end up losing one or two of their stars in the near future and decreasing their competitive ability in the Eastern Conference. However, New York currently has no point guard to count on going into next season, and retaining Lin is just as much for his basketball skills as it is his marketing ability in the Big Apple. Lin's decision on whether to take that sheet could loom large on New York's cap flexibility going down the line.

Talk about Lin with Knicks fans by hitting up Posting and Toasting, and discuss Lin with Rockets fans by going to The Dream Shake.

Go to the SB Nation NBA YouTube channel and see if you'd be interested in any of the videos.

Trending Discussions

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join SB Nation Bay Area

You must be a member of SB Nation Bay Area to participate.

We have our own Community Guidelines at SB Nation Bay Area. You should read them.

Join SB Nation Bay Area

You must be a member of SB Nation Bay Area to participate.

We have our own Community Guidelines at SB Nation Bay Area. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.