The New York Knicks troubles continued as the team decides if Jeremy Lin is worth $58.3 million in 2014-15.
The New York Post reports that if the Knicks matched the Rockets offer sheet for Lin, owner James Dolan could pay the $58.3 million because of the new CBA's luxury-tax penalties.
The Knicks seem to have decided to pair Jason Kidd with a cheaper point-guard in Raymond Felton. The team is finalizing a sign-and-trade agreement with Portland to bring back Felton for a three-year, $10 million deal.
The previous offer sheet for Lin was a four-year, $28.8 million with $18.5 million guaranteed which the Knicks said they would match. Now Lin has signed a revamped Rockets offer sheet that the Knicks are unlikely to match because Lin will make the maximum $15 million in the third year. The new offer sheet is three-years, $25 million fully guaranteed.
The Knicks soap opera continued with Jason Kidd getting behind the wheel of his 2010 Cadillac Escalade after a night of partying in the Hamptons. He lost control of the vehicle and crashed into a telephone pole at 2 a.m. and was arrested for alleged drunk driving near his Water Mill home.
Kidd was in the car alone when he crashed.
The Knicks just signed Kidd to a thee-year deal worth $9 million.