Howard Beck of the NY Times reports the Knicks have finished deliberations. According to those with knowledge of the deliberation, as of 4 p.m. the Knicks have decided not to match Houston’s offer for Jeremy Lin. Though the deliberations were said to be over, this is not an official announcement. The Knicks, who have until 11:59 EST tonight,  are expected to announce their decision this evening. 

Beck also reports it was ultimately a financial decision as the revised offer, which paid out $5M in year one, $5.2M in year two and the ‘poison pill’ of $14.8 in year 3, was just too much for James Dolan and the Knicks to take on. Lin would of cost the Knicks an estimated $43 million in 2014-15, which most people, including the Knicks front office, thought was too much.

Jeremy Lin’s career took off with the Knicks during a stretch of games titled “Linsanity“. Saving the Knicks from a subpar season, he led them on a 7-game winning streak- putting them back on the map. Since the NBA-ABA merger in 1976, no player has scored more points in their first 5 starts than Jeremy Lin with 136. But it wasn’t just his underdog story, or his talent that made people “Lin-sane” over Jeremy- it was the fight, excitement, and energy he brought to Madison Square Garden each and every game. It will surely be missed as Jeremy Lin is expected to be a Houston Rocket.