Palo Alto’s Jeremy Lin Mulling New Offer From Houston Rockets

NEW YORK (CBS 5/WFAN) – The Houston Rockets have reportedly extended an offer to point guard Jeremy Lin, who spent a few days with Houston in 2011 before being waived and later becoming the biggest story — and most marketable player — in the NBA last season.

Lin, a restricted free agent,  is “mulling over whether to accept it,” according to Adrian Wojnarowski of Yahoo! Sports. The New York Knicks were expected to match any offer for Lin.

The former Palo Alto resident met with the Rockets on Wednesday and was expected to receive a four-year offer worth around $40 million. Wojnarowski didn’t report any financials, though he said it’s for multiple years and back-loaded with cash, “designed to hit the Knicks hard on the luxury tax.”

“Absolutely he’s going to be back,” Knicks coach Mike Woodson told the New York Post in June. “We like what he brings to the table. He’s our starting point guard. He’s a young point guard who’s still learning, and he’s going to be better. … Absolutely, he wants to be here.”

Though he could give a verbal commitment, Lin can’t sign an offer sheet until July 11. The Knicks would then have three days to match.

After spending the 2010-11 season with Golden State, the Warriors waived Lin in December of 2011.  Houston claimed him but Lin spent just two weeks with the Rockets before he was claimed by New York and found global fame with a stunning stretch of play in February.

The 23-year-old averaged 14.6 points and 6.2 assists last season. Lin’s season was cut short after just 35 games — 25 starts — due to arthroscopic surgery on his right knee.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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