Whether he's playing for the NBA's Houston Rockets or New York Knicks next season, Palo Alto's Jeremy Lin is going to be a rich man. Linsanity, indeed.
According to a report in the New York Post, the Rockets are planning to offer Lin a backloaded deal worth nearly $30 million. The 2006 Palo Alto High grad could make as much as $10 million per year in his third and fourth seasons.
Lin made the league minimum for a second-year player last season: $762,185.
The Houston Chronicle was among the US media outlets reporting that Lin was ready to accept the Rockets' offer, which reports put at about $28.8 million over four years.
Lin averaged 14.6 points and 6.2 assists per game for New York last season in 35 games, including 25 starts, before being sidelined with torn knee cartilage. He is now a restricted free agent, which means New York can match any offers for him. Deals, however, can't be signed until July 11.
The Knicks, however, reportedly offered Jason Kidd a $9 million, three-year contract on Thursday. The move was to either have Kidd mentor Lin, or replace him.
"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 Rockets waived Lin last December and he was claimed by the Knicks, who were saddled with injuries. Lin turned into a breakout star when he landed the starting point guard job. Now, Goran Dragic is not expected to return to the Rockets, who traded guard Kyle Lowery to Toronto on Thursday. Both players were factors in the Rockets letting Lin go in December.
Lin, an undrafted 6-foot-3 guard out of Harvard and the NBA's first American-born player of Chinese or Taiwanese decent, evidently would fit nicely in Houston as the Rockets remain popular in Asia even after former center Yao Ming's retirement.
In addition to Lin, the Knicks may have to match another offer to eep their starting backcourt intact. Former Stanford standout Landry Fields has an offer sheet from the Toronto Raptors for a reported $20 million over three years.