New York Knicks, Nba Free Agency | featured news

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 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.

Jason Kidd would also be invaluable as a mentor to Jeremy Lin, the Knicks’ precocious 23-year-old point guard, assuming they can keep him.