Jeremy Lin spent hours with the Houston Rockets yesterday evening and according to HOOPSWORLD, he left with a considerable offer of $30+ million over 4 years. The deal is outlined in the similar fashion of the Bulls’ Omer Asik, a backloaded offer. Lin would receive $5 million in the first year, $5.2 million in the second year and then year’s 3 and 4 would spike up to $10 million a piece. The Knicks already have $61,537,876 million committed to their big three in the third year – under $10 million shy of hitting the luxury tax.
UPDATE: According to Adrian Wojnarowski, the Houston Rockets and Jeremy Lin have come to an agreement on an offer sheet. The terms of the offer sheet are currently unknown. The Knicks have publicly vowed to match any offer though the Rockets are expected to backload money in the deal.