NBA

Knicks’ GM: Felton better value than Lin

In his first comments since making the decision in July to part ways with Jeremy Lin, Knicks general manager Glen Grunwald said bringing back Raymond Felton for a second stint with the team was a better value than keeping Lin after the Rockets increased their offer sheet to the young point guard.

“It comes down to Houston made a commitment to him we weren’t prepared to make,’’ Grunwald said at yesterday’s press conference on Media Day. “I’m very happy for Jeremy that things worked out for him personally and his family and wish him the best. But I’m more excited about our team right now.

“We felt Raymond Felton was the best option at the end of the day. We were excited to get Raymond back. We weren’t disappointed at all [Houston changed the offer].’’

Felton, for his part, said he must make fans forget about Lin and his own lousy 2011-12 season in Portland. Felton admitted he was “out of shape’’ after the lockout ended.

“We’re very excited to have Raymond back,’’ Grunwald said. “He had a great year with us [in 2010-11]. We think he’s going to make a big difference. He had an off year last year, but he had a tremendous summer. Not only did he get married, but he worked very hard and came here in great shape. I expect he’ll do as well or better as he did when here before.”

Felton admitted he wasn’t in condition in 2012.

“I got a big chip on my shoulder this year,’’ Felton said. “I got to Portland out of shape, being a lockout year. But I’m in shape now and ready to go and I got a big, big chip on my shoulder.”

Felton is slated as the starting point guard, though Jason Kidd could give him a run. The Felton-Kidd-Pablo Prigioni triumvirate is a big upgrade over last season’s point guard mess.

Coach Mike Woodson, whose last words to the press were about how Lin was his starting point guard, was tight-lipped on the decision to let Lin go to Houston.

“We’re not here to discuss Jeremy Lin,’’ Woodson said. “We wish Jeremy nothing but the best. This day is really about who we fielded this summer.’’

* According to a source, Rasheed Wallace completed his Knicks physical yesterday. Wallace, who was not at media day, still hasn’t officially signed, but is expected at today’s first practice.

Woodson would not guarantee Wallace will make the roster.

“He’s another guy who brings veteranship to our ballclub,’’ Woodson said. “Fact is, he’s asked to come out of retirement to try to get back in the league and help the team. I had great success with him in Detroit. He’s a great teammate. He knows how to win and he’s great from a defensive standpoint. He makes guys around him better, being able to defend. That’s going to be huge.

“We don’t know if he’s going to work out, but he’ll hopefully be in camp [today] and give him a look and see where it goes from there.”

* Iman Shumpert said the official timetable for his return is between December and February.