Linsanity Blasts Off: Jeremy Lin Headed To Rockets As Knicks Refuse To Match Offer

Nobody needs to read another person’s meditation on Jeremy Lin leaving the Knicks, I know, but I just need to think out loud for a few minutes here to process some lingering thoughts.

Because here’s the thing: Linsanity wasn’t some gimmick ginned up by ESPN or anyone else who desperately wanted Jeremy Lin to succeed. He became a household name because of what he did on the court. That Lakers game, the Raptors game-winner, the Mavs game on ABC where he had 28 and 14 and completely destroyed Dallas in the second half. These things happened, and it was great.

Lin spoke with SI.com on Wednesday to discuss what happened during one of the offseason’s most hotly-discussed free agency signings.

The phone call reportedly lasted just 30 seconds. Grunwald thanked Lin and wished him luck, and Lin returned a kind word towards the Knicks. If Lin feels like he was misled in anyway, he didn’t show it. He had nothing to say but nice things to say about New York City, the Knicks and the fans that helped make Linsanity possible.

Tom Martin at The Dream Shake wrote about Lin’s acquisition, which he called a good move. He’s expecting Lin to become a legitimate starting NBA point guard, but not a superstar.

Meanwhile, Brian McDonald of SB Nation Houston is a little more skeptical. He decided to cross the streams and compare Lin’s signing to a recent poor signing by the Houston Astros.

Seth at Posting and Toasting puts it as magnanimously as a Knicks fan may be able to at this point:

There are thousands of comments from Knicks fans at Posting and Toasting since Tuesday and they run the gamut of emotion, from gratitude to Lin, to sadness at his departure, to anger at the Knicks’ front office, to ... well, that covers most of it, actually. A comment from gymtanlandy suggests that the Knicks are “the most poorly managed team in all of sports.” Most New York fans seem to be hard-pressed to disagree at the moment.

New York’s decision wasn’t a surprise, in part because Morey included a “poison pill” third year that would have forced the Knicks into paying an exorbitant luxury tax. After making a combined $11 million in the first two years of the contract, Lin will make $14.9 million in his third season alone. As the New York Times’ Howard Beck previously reported, that sum would have triggered a luxury tax penalty of $35 million or more for the Knicks given their existing payroll commitments.

So instead, Lin returns to Houston. Lin played for the Rockets in the preseason last December before being released one day before the start of the regular season -- and several weeks before becoming a household name with the Knicks. Instead of fighting for a roster spot, he returns with a guaranteed starting job -- not to mention an extra comma on his paycheck and a worldwide following of fans.

Here are some of the many headlines that we just assume are coming at any moment:

- Lindependence Day! Out-Of-This-World Rockets Say To Point Guard, “Welcome To Earth!” -- ESPN.com

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

I find myself surprisingly unaggravated by the idea that Jeremy Lin might soon play for a team other than the New York Knicks. While I found Linsanity compelling in every way -- especially on the court, before Mike Woodson took over -- I understand that there really is no such thing as forever in professional sports, and that for Lin to truly blossom he might need a different environment that what Woodson, Carmelo Anthony and the Knicks provide. I tend to align with my colleague Andrew Sharp on the whole match-or-reject issue.

Lin rose in the absence of order as the Knicks struggled for a positive identity under Mike D’Antoni. That chaos was opportunity for Lin. Woodson instituted order, and it seriously helped the team. Lin can thrive in those conditions, too, but the idea that the Knicks absolutely need Lin to thrive, even at the cost of millions and millions in luxury tax, seems wrong. I say this as someone skeptical of Jason Kidd’s production, mind you.

A year after it debuted, the amnesty clause has finally made its mark on the NBA. As a part of the collective bargaining agreement reached to end the lockout, the league would allow teams to waive one player already under contract as of December 2011, and not only remove his salary from the luxury tax rolls, but also remove his salary off the salary cap ledger. That means that if you were exactly at the $58 million cap and used the amnesty clause on a player making $20 million, you’d clear that off of the cap sheet and be at $38 million with plenty of room to maneuver. This was a one-time deal with a set waiver window each free agent period. This was teams’ big shot to clear onerous contracts off of the books.

But few teams used it. The Cleveland Cavaliers used it in the most traditional way, exiling Baron Davis, who had two nasty years left on a nasty contract. The Portland Trail Blazers pulled some fairly typical Portland Trail Blazers nonsense with it, laying it on Brandon Roy after deciding it would be more useful than the otherwise planned medical retirement. (Less than a year later, Roy is already back in the league. So really, the Blazers were just too cowardly to use the amnesty on Roy straight up. They had to break out the puppet theater to avoid embarrassment.)

This story will likely not resolve for a few more days while the Knicks mull over how badly they feel they need Lin to return.

For more on the Knicks, visit Posting and Toasting and SB Nation New York. And for more on the Rockets, visit The Dream Shake and SB Nation Houston.

This is a bit of a reunion deal for the Knicks as they acquire two players with previous stops in New York. Felton played 54 games for the Knicks during the 2010-11 season while Kurt Thomas spent seven seasons in New York (his last was 2004-05). Felton posted the best numbers of his career during his first stint with the Knicks, averaging 17.1 points and 9.0 assists per game. Felton will reportedly sign a three-year $10 million contract.

For more on the Knicks, visit Posting and Toasting and SB Nation New York. For more on the Blazers, check out Blazer’s Edge. And for more on the Rockets, visit The Dream Shake and SB Nation Houston.

The extra cost is a major factor when it comes to the NBA’s luxury tax system.

So much for this, I guess. It’s a clever poison pill contract written by the Knicks.

Spears is far from the only person reporting a Felton-Knicks link: the New York Daily News’ Frank Isola and Houston Chronicle’s Jonathan Feigen both reported talks happening shortly before Spears reported the potential deal.

For more on the Knicks, visit Posting and Toasting and SB Nation New York. For more on the Blazers, check out Blazer’s Edge. And for more on the Rockets, visit The Dream Shake and SB Nation Houston.

The league had already made clear that the offer sheet needs to be delivered to Grunwald, not just sent to the Knicks’ Madison Square Garden offices, which likely means that there is a hapless Rockets front office staffer looking all over Las Vegas — where many NBA personnel are for Summer League action — for him.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

A series of tweets from the Houston Chronicle’s @Jonathan_Feigen:

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Berman cited a source who indicated that Morey re-arranged the offer sheet because of the widespread reports that the Knicks would match any and all offers for the restricted Lin:

The increased third year “poison pill” will likely have dramatic luxury-tax implications for James Dolan and the Knicks, should they match. They are scheduled to have $87 million committed to just eight players in three years, which should be well above the luxury tax line.

All indications are that the Knicks have already decided to match the offer, despite the potential luxury tax implications the backloaded contract may have on their salary cap situation in the future.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

Quite a few people assumed the Knicks planned to match the offer, but the New York Post’s Marc Berman quoted from a source confirming as much for his story on Friday morning.

Matching the offer will push the Knicks further into the luxury tax during the third year of Lin’s contract, but New York apparently believes his on-court abilities and the ability to contribute to off-court marketing strategies will help make up for the luxury tax bill ... and that will almost certainly be the case.

Despite the three-year deal, Kidd is obviously past his prime and in the sunset of his career -- creating a continued need for Lin, even if it requires matching the hefty offer sheet from the Rockets.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.

For more on the Rockets, visit The Dream Shake and SB Nation Houston.

For more on the Rockets, visit The Dream Shake and SB Nation Houston. For more on the Knicks, visit Posting and Toasting and SB Nation New York.