HOUSTON (AP) — Jeremy Lin is leaving New York and taking Linsanity to Houston.
The New York Knicks announced Tuesday night that they will not match the Houston Rocket’s three-year, $25 million offer for Lin, a restricted free-agent.
New York officially had until 11:59 EDT to decide whether to re-sign Lin, who became an international phenomenon in the media glare of Big Apple.
The Rockets made it tough for the Knicks to sign off on keeping him by backloading their offer sheet with a $15 million salary in the third season. If the Knicks agreed to that deal, they would’ve faced a hefty luxury tax in 2014-15 because of other big contracts on their books — between $30-40 million.
Lin now returns to Houston, where he spent about two weeks in December during training camp.