Originally written on Sports-Glory  |  Last updated 7/16/12

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.

 

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