Houston Rockets, New York Knicks | featured news

Jeremy Lin had 22 points and eight assists in his return to New York, leading the Houston Rockets to a 109-96 victory Monday night that ended the Knicks' season-opening 10-game home winning streak.

Say goodbye to Linsanity, New York. Jeremy Lin is taking his game off Broadway -- way off -- to Houston after the Knicks announced Tuesday night they would not match the Rockets' three-year, $25 million offer for the restricted free agent. "Extremely excited and honored to be a Houston Rocket again!!" Lin posted on his Twitter account. "Much love and thankfulness to the Knicks and New York for your support the past year...easily the best year of my life."

Linsanity is just about over in New York. The Knicks plan to cut ties with Jeremy Lin on Tuesday night, according to a person briefed on the decision, ending a brief, spectacular and now bittersweet love affair between the 23-year-old point guard and his adoring fan base. Lin will play next season for the Houston Rockets, who signed him to a three-year, $25.1 million offer sheet that the Knicks have elected not to match.

The Knicks struck a deal to reacquire Raymond Felton, the veteran point guard, sparking immediate, furious speculation that the franchise was ready to let Jeremy Lin leave for Houston. The answer, as of midnight, was anything but clear. In a surprise move, the Knicks struck a deal to reacquire Raymond Felton, the veteran point guard, sparking immediate, furious speculation that the franchise was ready to let Lin leave for Houston.

The Knicks made two moves Monday to build their roster, acquiring Marcus Camby in a sign-and-trade deal with the Houston Rockets and agreeing to a four-year deal with Steve Novak.

A person with knowledge of the deal said Thursday that New York Knicks restricted free-agent guard Jeremy Lin and the Houston Rockets have agreed to terms on a four-year contract offer. The person told The Associated Press on Thursday on condition of anonymity because the team hadn't officially announced the deal. Lin can sign the offer sheet with Houston on July 11, and the Knicks will then have three days to match the offer.

The main components of the trade involved Houston acquiring Kevin Martin from the Kings and Sacramento receiving sixth-man Carl Landry from Houston and Jared Jeffries from the Knicks.