The Knicks will officially match Jeremy Lin’s $28.8 million offer sheet from the Rockets as soon as Wednesday, when the NBA moratorium ends, thereby keeping the author of Linsanity at the Garden for at least the next three seasons.
The Knicks have 72 hours to match, but likely will take care of it today unless they get bogged down in the massive paperwork from all the other moves they officially can execute.
The Lin offer sheet should be a priority because no other move they will make has the ability to spur season-ticket sales than signing “17.’’ The Knicks also will officially sign Jason Kidd, Steve Novak, J.R. Smith, James White and formally execute the sign-and-trade for Marcus Camby. It’s a busy day for general manager Glen Grunwald, who probably won’t match Landry Fields’ three-year, $18.5 million offer sheet from the Raptors, with Smith now aboard.
The Post reported on July 6 the Knicks would match the Rockets’ offer. An NBA source familiar with the Knicks’ thinking said of Houston’s offer sheet: “It wasn’t so bad.”
Indeed, only the first three years — or $20.3 million — were guaranteed. Lin will make $5 million in the first year of the pact and $5.2 million in the second. The guaranteed third year builds to $9.3 million, and could have gone as high as $15 million if Rockets general manager Daryl Morey were trying to scare off the Knicks with the luxury-tax implications.
But Morey’s actions give pause. The Knicks declined to make Lin an offer until he set the market, so he had to find a team willing to give him an offer sheet. Lin was in a tricky position because the Knicks had attempted to scare away suitors by boldly stating before free agency they wanted him back.
Morey could have intentionally done a favor for the Knicks in setting a reasonable market price and not having Lin twist in the wind for weeks. The Knicks may have repaid the favor when the Knicks gave Morey a slew of assets in the Camby deal — center prospects Josh Harrellson and Jerome Jordan, Toney Douglas, two second-round picks and $2 million.
Lin withdrew last week from the U.S. Select Team — which practices with Team USA — because of his contract uncertainty. Lin originally planned to take part and take out an insurance policy, according to a source. But Lin needed to be in Houston on a recruiting visit July 5.
USA Basketball chief Jerry Colangelo was noncommittal on Lin’s status. “The guy set the world on fire for 25, 30 games,’’ he said. “We brought him in to see where he might fit going forward. Nothing more than that. Unfortunately, because of his contractual situation, he wasn’t able to. He’s still on the radar screen.’’
Colangelo paid a big compliment to Carmelo Anthony, who lost 12 pounds since the season ended. “Carmelo didn’t go deep in the playoffs but he came here in great shape and it shows,’’ he said. … Deron Williams planned to sign his $100 million pact last night at midnight with Nets GM Billy King in town. Williams now will be able to scrimmage instead of watching. “It means I’m a Brooklyn Net,’’ Williams said of his signature. “I’m not a free agent anymore.’’ Williams said he was worried about “conditioning’’ because he hadn’t played five-on-five since April.