Jeremy Lin Offered $30 Million Contract By Houston Rockets, According To Report

The New York Daily News is reporting that free agent guard Jeremy Lin, formerly of the New York Knicks, has been made a substantial offer of a $30 million deal over four years:

A league source said Lin will be offered a contract today -- maybe in the $30 million range -- in a back-loaded nature similar to the one the Rockets offered Bulls big man Omir Asik.

"Jeremy Lin's an excellent player,'' Rockets general manager Daryl Morey told The Post. "We got to know him firsthand when he was with the Rockets early this season. We think he'd make a fantastic addition to our team.''

The source said the Rockets will offer Lin $5 million, $5.2 million and then plan to jack up the third and fourth years to as much as $10 million.

If there's something peculiar about that deal structure, it's what's referred to as a "poison pill contract," designed to make it extremely difficult for the New York Knicks to stay in the bidding because of their own heavy payroll, according to CBS Sports:

To put this in perspective, in three years, when that first hit of $10 million per year would come in? The Knicks have $64 million devoted to four players. That is an absolutely absurd number and fielding a full roster could push them well north of $90 million, approaching the $100 million mark, with or without Lin.

Could New York match the deal? Certainly, but Houston's design is one that would make the Knicks really, really want "Linsanity" back in Manhattan. New York's loss of star power could be Houston's desperate gain, as the Rockets will likely trade disgruntled Kyle Lowry and lose Goran Dragic to a higher bidder.

Read more on the Rockets at The Dream Shake and SB Nation Houston. Also, be sure to subscribe to the SB Nation Youtube Channel for video commentary.

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