Jeremy Lin & Houston Rockets Agree On $28.8 Million Offer Sheet
Jeremy Lin and the Houston Rockets have agreed to terms on an offer sheet according to multiple NBA reporter Twitter accounts. According to Adrian Wojnarowski of Yahoo!, the deal will be a backloaded, three-year contract with a team option for a fourth year. TNT’s David Aldridge says the deal is worth $30 million. Sports Illustrated’s Sam Amick says the deal is “not 30 million,” but doesn’t say if it’s more or less.
Update: Woj has the contract as “$5M in year one, $5.2M in year two and $9.3M in years three” and four. That equals $28.8 million if you were curious.
The Knicks were planning on matching any offer sheet Lin signs with another team, but since they just picked up Jason Kidd, I’m not sure why they need to now. For the Rockets, they kind of need the Knicks to let Lin go. Over the last few days they’ve traded and missed out on anyone who isn’t a swingman. A point guard could really help Daryl “Dork Elvis” Morey look like he knows what he’s doing again.
[Getty, Twitter]
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44 Responses to “Jeremy Lin & Houston Rockets Agree On $28.8 Million Offer Sheet”
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July 5th, 2012 at 8:12 PM
He’s placing his Kung-Fu grip on TexMex now, eh? Is anybody around at the TBL home office to make sure he doesn’t lock himself in his garage with his car running?
July 5th, 2012 at 8:16 PM
I rearry rike praying basketbarr
/Jeremy Rin
July 5th, 2012 at 8:20 PM
(gong)
July 5th, 2012 at 8:26 PM
Chris ZaraBroussard just tweeted “Free agency aint my job. U haterz get their NBA dimes on their own. Lovin the islandz.”
July 5th, 2012 at 8:28 PM
More crappy, overrated PG news. Nash/Lin/Kidd are all shitty in their own way, but shitty nonetheless.
/that’ll put a chink in his student loans
July 5th, 2012 at 8:31 PM
I like Morey’s attempt to go retro genius by overpaying for the guard he released before the start of last season.
July 5th, 2012 at 8:31 PM
So Linsanity gets the same deal as Landry Fields. Nice job rockets, doing the legwork.
July 5th, 2012 at 8:37 PM
Hey round eye
July 5th, 2012 at 8:37 PM
Pretty funny:
In the 3rd year of this deal, the Knicks (assuming they match) will have over $70M committed to 4 players: Lin, Melo, Amar’e and Chandler. Shit ton of tax money. $4.25 for every dollar over the Luxury Tax (assuming they are $15M over tax and repeat offenders).
July 5th, 2012 at 8:52 PM
Lets presume a team ends up 20-25 over the cap. A team like the Knicks or Lakers could get into the $90 million range. The tax penalties for a team $20 million over the cap to $60 million ($86mm for $25mm over the cap). Guessing the cap is $75, a team would then face a roster cost of $186mm for a $100mm roster).
Now, a team would have to acquire the salaries to get that high. It’s not as if they can just go signing people. The Lakers get $30mm for TV rights a year for perspective.
July 5th, 2012 at 8:55 PM
Wouldn’t they make up most if not all of that luxury tax with jersey sales and all that?
July 5th, 2012 at 8:56 PM
This reminds me of Toronto and Landry Fields… using ludicrous offer sheets to screw with other teams can backfire. Someone is going to be paying Asik $14M, Lin $10M, and Fields $12M (?) each in 2015. WTF? As for Lin, I’m still not buying him till he cuts down on the 5+ turnover games.
All these GMs are doing is creating a ton of expiring contracts to trade for other shitty deal. Houston is going to be paying Asik and Lin $25 million in 2014-15? I really hope Morey is smarter than I am, because I don’t get it.
July 5th, 2012 at 9:00 PM
Thae thing with Houston, since they made these offers, the cap # in these years will only be the annual average for the deal. So in that sense, it kinda makes sense. Lin’s ’14-’15 cap number for Houston is ~$6M I think, not ~$10M.
July 5th, 2012 at 9:01 PM
So the cap hit for Houston is only $6M? Then how is the cap hit $10M for the Knicks if they match? Is it not? Or is it because they are over the cap?
July 5th, 2012 at 9:01 PM
are we absolutely positive that Isiah isn’t working these deals out?
July 5th, 2012 at 9:03 PM
I think its a weird thing with RFA and offer sheets. I remember hearing about it when they offered Asik. Averaging only applies to the team signing the player to the offer sheet, not the matcher. Seems like the league is encouraging poison pill contracts with this provision.
July 5th, 2012 at 9:04 PM
Wouldn’t they make up most if not all of that luxury tax with jersey sales and all that?
Jerseys and gear get split first between nba and union and then among the teams; So no. Tickets/Loges, local media, marketing are your main ways for a team to create leverage over peers; gear and national media are split up. It’s why the Heat owner is bitching about losing money last year (2011) and barely making some this year.
July 5th, 2012 at 9:06 PM
Linn is a nice shooter. But I can’t imagine anyone paying him that kind of money. New York would be stupid to match that offer.
July 5th, 2012 at 9:08 PM
It’s why the Heat owner is bitching about losing money last year (2011) and barely making some this year.
If he wants to swap incomes with me, I’ll happily oblige…
July 5th, 2012 at 9:08 PM
I think the Lin deal helps HOU in keeping some foreign marketing deals they had signed when Yao was active. That could have played a part of it.
Although HOU cut him earlier, he still would have been a RFA this year, no? So it’s just they are trying to poach him vs. retain him.
July 5th, 2012 at 9:09 PM
New York would be stupid to match that offer.
I’ll take this to mean they are matching the offer immediately.
July 5th, 2012 at 9:11 PM
Tbl tweeted they should
July 5th, 2012 at 9:14 PM
So, MSG, MSG Network, and expensive ticket prices means the Knicks aren’t exactly headed to the poorhouse?
July 5th, 2012 at 9:14 PM
It’s too bad. I’d love to see the GMs saddle Houston with those deals and give them a $40 million bench in 2015, but they really do save with that cap hit.
Funny thing is I’d think frontloading the deal would be just as hard for NYK to match, but if HOU is way under the cap next year, it’ll work out.
I always am surprised when teams have a ton of extra cap space in the NFL. I’d think you’d want to re-do any contracts to be guaranteed up front if you knew you’d be under-cap this year, and give yourself a bunch of cheap cap hits going forward, stockpiling space for future years.
/you know, until the player holds out on the re-done deal
July 5th, 2012 at 9:20 PM
So, MSG, MSG Network, and expensive ticket prices means the Knicks aren’t exactly headed to the poorhouse?
Right. The Knicks should have no issues. The Lakers IMO fucked up royally when they locked in a 20-year deal at somewhere around $30mm a year last year. They should be using they Super Tax to distance themselves and manage an extremely high payroll. They could have leveraged that in their deal but a 20-year deal? One aspect of this labor deal makes it harder to go that high, re-signing your draftees and RFA’s will be a labor cost escalator. But if you have traded all your picks (see LAA, MIA) it’ll be harder. See, even if you sign and draft role players, they can be packed for higher salaried guys to inflate your cap. The Knicks would be wise to match/extend all their young players, and then trade the talent to match their needs, or when those deals get close to expiring, use those ending deals to obtain assets from teams looking to shed salary.
July 5th, 2012 at 9:23 PM
WWOS, I think teams can roll $5-$7.5mm from last year to this year in cap space in the NFL. Conversely (due to the uncertainty of the new deal) a team like PIT could exceed that much last without penalty, but had their cap reduced this year. It’s partly why they had to unload guys like Farrior.
July 5th, 2012 at 9:24 PM
I wouldnt mind seeing the Cavs make a move for Novak potentially.
July 5th, 2012 at 9:25 PM
I know you can do it with expected/unexpected bonuses.
Expected bonuses (tackles) count, while unexpected don’t count… and so Tom Brady could have a ‘special teams tackles’ bonus which can count when they have space, and be rolled over when they need it. That’s the extent of my limited knowledge there, but it’s a crazy game.
July 5th, 2012 at 9:27 PM
The team that owns the RFA can only offer them the midlevel for the first 2 years. That is why Lin’s contract would be around 5M for 2 years then jump up to 9M in the 3rd. Same w/ Asik, which would be 5M in the first 2 years then 15M in the 3rd. If an outside team signs them, they can pay them the average of the salary over the course of the contract.
July 5th, 2012 at 9:27 PM
“Bend over again, music boy!”
July 5th, 2012 at 9:29 PM
“Bend over again, music boy!”
Sandusky approves of that comment
July 5th, 2012 at 9:51 PM
I’m a Daryl Morey fan (that feels weird to type). But has anybody ever made more moves in one off-season without accomplishing anything? It seems like he just discovered how to backload contracts for restricted free agents, and is now trolling the entire NBA with it.
July 5th, 2012 at 10:21 PM
Brandon Roy is going to sign with Minnesota? If Roy can be back to somewhat his old self, then that team gets more fun.
July 5th, 2012 at 11:07 PM
Wow, David Kahn can’t help himself from being incompetent.
July 5th, 2012 at 11:37 PM
Lotta scratch for a guy that fucking sucks.
July 6th, 2012 at 12:49 AM
One off season? how about an entire career of not accomplishing anything. I think he’s more Dork Rick Astley than Dork Elvis. Jesus, if he wasn’t Simmons buddy he would have been shit-canned years ago. Useless, and now he’s saddled an entire franchise with shitty players AND shitty contracts.
July 6th, 2012 at 8:24 AM
RFED-Joker – who ya go? I’d like RFed to win since he probably doesnt have too many more chances, but a Djoker win wouldnt upset me at all. Just glad that greaseball Nadal is out.
July 6th, 2012 at 9:35 AM
Did you see the roster he inherited? He turned Rafer Alston and Jackie Butler into a solid starting five. He also “inherited” the injury-prone max contracts of Yao and McGrady.
Seriously, name me one trade the Morey “lost” in dealing with another GM. He may have made some questionable FA signings, but his #1 goal has been to acquire a top 5 player. Since it’s not exactly a buyer’s market on that front, he’s constantly resorting to Plan B.
The Rockets still retain a lot of cap flexibility but are accepting the fact that they need to rebuild. What exactly is wrong with this approach?
July 6th, 2012 at 9:36 AM
in Morey we trust.
players he’s developed:
Chase Budinger was drafted in the 2nd round but traded for a 1st round pick and is a very productive player.
Carl Landry, 2nd Round pick, who developed into a very solid NBA player
Kyle Lowry (on the bench at Memphis)
Chandler Parsons who is a 2nd Team All Rookie (2nd Round Pick)
Luis Scola – who they got for a 2nd Round pick and is a plus PF in the league
Name me a GM who’s developed as many 2nd round picks into productive players. There aren’t many. It doesn’t seem like Morey is doing that bad to me. Keeps his team above .500 in the very competitive West without a superstar. In the modern NBA you need at least 2 superstars to win. He had a good idea in trying to accumulate 1st round picks to move into the top 10, just no one was buying. He lost Yao to injury before he should have and T-Mac became terrible overnight. I give him a B+ considering what he’s been saddled with.
July 6th, 2012 at 9:55 AM
“developed”? A second round pick making second team all rookie isn’t exactly earth shattering. A second round pick developing into a “solid” NBA player is routine. Luis Scola was on the international radar while Morey was still in school. Teams like Atlanta have been ridiculed for being good enough for the second round year in and year out. Carmelo has been lambasted because he can’t get out of the first round; but this guy is a genius because he treads water enough to finish on the back end of the lottery year in and year out? It reminds me of the 08 debates when McCain asked Obama if he knew the difference between strategy and tactics. Morey is all tactics.
July 6th, 2012 at 10:56 AM
I didn’t know he coached as well, but what I do know is that Alston was the starting PG on a squad that went to the NBA Finals.
July 6th, 2012 at 12:25 PM
@Darrell: Who are the good GMS in your mind? Lemme guess, it’s the teams who end up getting top 3 picks like OKC and/or Chicago or the glamour cities like LA or Miami where everyone is clamoring to go there. Tell me how many 2nd round picks make All Rookie Teams. You say it’s no big deal, the burden of proof is on you to show me how often it happens. I didn’t say it was earth shattering but he has taken some poor draft positions and turned them into productive players. Why are you comparing a player(Carmelo) w/ a GM? The player actually plays. With the chips he’s been dealt, I think Morey has done well. He was on the verge of something until Yao went down. And ATL plays in the East which is basically garbage outside of MIA and Chicago. Strategy and tactics are essentially the same thing dude. If you’re quoting McCain you lost me already, the guy is a boob
July 6th, 2012 at 1:30 PM
Lets start with the very team you’re speaking of: Isiah Thomas. Lets go the year before when Landry Fields made first team all rookie as a second round pick. Or the undrafted Gary Neal on the same team with Fields. DeJuan Blair the year before that. Mario Chalmers the year before that. It happens often. I mean we’re talking about second team all rookie, c’mon!
July 6th, 2012 at 2:38 PM
Who are the good Gms in your mind?