It took a long time, but the Houston Rockets finally did it! They finally got a big name during the summer free agent period.
Houston signed former New York Knicks guard Jeremy Lin to a three-year, $25.1 million offer sheet, taking Lin off of the restricted free-agent list.
However, now that the Rockets have him, is Jeremy really the right match? New York waited until the last minute to decide what they were going to do. They signed former Dallas Mavericks guard Jason Kidd and brought back Raymond Felton.
Initial reports had the Rockets offering Lin a four-year deal worth $28 million. That deal included salaries of more than $9 million in each of the last two years, which would have been a big hit on the Knicks cap. And for a while, the Knicks organization seemed intent on matching the Rockets offer sheet.
If New York would have signed Jeremy Lin, then they would have had $75 million tied up in four players- Amare Stoudemire, Carmelo Anthony, Tyson Chandler, and an undisclosed player in 2014-15.
Houston had a verbal agreement with Lin before the team emerged as a serious suitor for Dwight Howard. The Rockets used the amnesty clause on forward Luis Scola, but the Lin offer sheet and an identical offer to Bulls center Omer Asik complicated the financial details of any trade with the Orlando Magic.
Lin was a restricted free agent. He made $788,000 last season and he averaged 14.6 points, 6.2 assists and 3.1 rebounds in 35 games with 25 starts before his campaign was cut short because of surgery to repair torn cartilage in his knee.
However, in the 35 games he was healthy, Lin went from an end-of-the-bench player into an international phenomenon. The undrafted guard out of Harvard was cut twice in the preseason, including once by the Houston Rockets. He played in the Developmental League, set the league on fire in February of 2012, and led the New York Knicks to seven consecutive wins during that span. He scored at least 20 points in nine of 10 games during that stretch.
Right now, Houston still needs some help and definitely someone or maybe two different players that Lin can pass the basketball too. If not, they are definitely going to be in trouble! Houston will gain a lot of marketing accessibility from both the American and Asian markets, both in the United States and overseas.
The Rockets will pay Lin $5 million in the first year, $5.2 million in the second-year, and then $14.9 million in the third and final year of his contract. Not bad for someone who wasn’t even drafted! And to break it down into even more smaller terms, Lin basically played 25 games and impressed suitors enough to draw $1 million per game.
Houston backloaded the deal with id="mce_marker"4.9 million due to Lin is in his third NBA season, making it a much greater luxury tax hit. The Rockets improved Lin’s offer in part because of the need at point guard after Goran Dragic didn’t take their offer and Kyle Lowry was traded to the Toronto Raptors.
Lin averaged 22.1 points and 9.2 assists, making 47 percent of his shots, in his first 12 starts during the winning streak. Houston is ready for “Linsanity”!!!!!!
We just need a few more pieces to be able to become a more respectable force in the Western Conference. Without anyone for Lin to throw the basketball too, people are going to be insane before the end of the Rockets 2012-13 season!