Jeremy Lin Traded: How Much Will Lin Earn with Houston Rockets?
Jeremy Lin Will Go to Houston
New York Knicks owner James Dolan has traded Linsanity for garden-variety Linsanity, and released point guard Jeremy Lin to the Houston Rockets.
The Houston Rockets signed Jeremy Lin to a three-year, $25.1 million contract. Almost as if knowing it was a dumb move, the Knicks kept their confirmation statement brief: “I can confirm we are not matching.” Lin's move to Houston was announced late at night on July 17.
Jeremy Lin fans have taken out their frustration on the Wikipedia page for James Dolan's band, JD & the Straight Shot. Edits to James Dolan's own Wikipedia page have been more restrained.
As CEO of Cablevision and Chairman of Madison Square Garden, James Dolan owns the Rangers and the Knicks.
Well, at least the Knicks still have Jason Kidd, provided they can keep him on the road. Kidd and Raymond Felton cost the Knicks a combined $7 per year.
Yes, this makes Dolan look like an idiot, but that was part of Houston's plan: keeping Lin in New York would have cost the Knicks more than the sticker price.
The decision was said to be financial, not emotional. Lin’s contract contains a third-year balloon payment of $14.9 million, which would have cost the Knicks another $35 million or more in luxury-tax penalties. This so-called poison pill was devised by the Rockets to dissuade the Knicks from matching, and it proved effective.
We suspect that Spike Lee will not be amused.