Rockets agree to terms on offer sheet with restricted free agent Jeremy Lin

By Matt Moore | NBA writer
Jeremy Lin has an offer sheet from the Rockets. (Getty Images)

Ken Berger of confirms a Yahoo Sports report that the Rockets have come to terms with Knicks restricted free agent G Jeremy Lin on an offer sheet. reports it's a 4-year $30 million deal, but says that figure is inaccurate and there were indications Thursday afternoon that Lin intended to ask for more. Whether the Rockets upped the offer or Lin settled isn't known yet. Yahoo reports that the third year of the deal has a "poison pill" year worth $9 million to try and punish the Knicks into not matching due to luxury tax implications. The first two years are reportedly $5 million and $5.2 million respectively.

The Rockets are in desparate need of a point guard after losing Goran Dragic in restricted free agency to the Phoenix Suns and then trading disgruntled starter Kyle Lowry to the Raptors Wednesday afternoon. The Rockets were the team who waived Lin prior to the Knicks picking him up, paving the way for Lin's emergence last season and phenomenal run that captivated the sports world.

New York continues to vow to match the offer, according to reports.

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