TAKING A LEAVE: The Knicks said goodbye to Jeremy Lin. Owner James Dolan, who was at yesterday’s Summer League game in Las Vegas (inset), and Co. declined to match the Rockets’ offer sheet. (
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One of sports’ most all-time captivating rags to riches stories, the rise of Jeremy Lin, is turning the page to its next chapter.
But it won’t be set in New York.
The Knicks confirmed Tuesday night they have officially severed ties with the 23-year-old point guard who made Linsanity an international sensation, by declining to match Houston’s 3-year, $25.1 million back-loaded offer sheet.
The Knicks had until 11:59 last night to inform the Rockets of their decision, but confirmed the move nearly two hours before the deadline.
“I can confirm we are not matching,” a Knicks spokesman said via text message.
NYPost.com reported Saturday night and The Post reported Sunday the Knicks would not match Lin’s offer and instead would make Raymond Felton the starting point guard after agreeing to reacquire him in a sign and trade with Portland.
Lin acknowledged the Knicks’ decision on his Twitter account not long after the team’s widely expected decision to part ways was made public. Lin was briefly with the Rockets last season before being cut and tweeted last night he was “Extremely excited and honored to be a Houston Rocket again!! #RedNation’’.
He also expressed his gratitude toward the Knicks.
“Much love and thankfulness to the Knicks and New York for your support this past year … easily the best year of my life #ForeverGrateful.”
Earlier, shortly after the Knicks’ decision became official, a reporter from The Post knocked on the door of Lin’s family home in Palo Alto, Calif.
“No, no, no, no,” was the initial response from Lin who seemed genuinely surprised to see a reporter at the door before closing it while saying “sorry.”
A second attempt to talk to Lin was met with his mother politely saying her son didn’t want to talk. He is expected to participate in a conference call today.
Knicks fans had clung to the glimmer of hope their team would have a sudden change of heart and re-sign Lin so the one-time inhabitant of his friends’ and relatives’ couches would suit up at the Garden again next season. Didn’t happen.
“U will be missed my friend,” tweeted Knicks forward Steve Novak, who began his career with the Rockets. “As great a teammate as I’ve had. Wish u all the best in H-town!’’
The Knicks were angered when the Rockets reworked their original offer, a four-year, $28.9 million proposal that was far more palatable to the Knicks. But in the revised deal the Rockets added a poison pill in the third year — worth $14.9 million — that would slam the Knicks for an estimated $43 million in luxury taxes. The Rockets were said to have reconfigured the deal after Lin advised them he had assurances from the Knicks they would match.
“Welcome to Houston @ JLin7!,” tweeted Rockets general manager Daryl Morey. “We plan to hang on this time. You will love # RedNation”.
When news of the decision to move forward without Lin became more public and more apparent — like with the Knicks re-acquiring Felton — the team felt repercussions in numerous ways.
Madison Square Garden stock saw a 64-cent drop on Monday that equaled a market capitalization loss of roughly $49 million — more than the luxury tax hit the Knicks would suffer — according to the Wall Street Journal. The website NetsDaily, an online treasure trove of all stories regarding the rival Brooklyn Nets, proposed fans exchange their Jeremy Lin Knicks gear for free Nets T-shirts. There were two online petitions to keep Lin. All were to no avail.
Ironically, the Knicks, long seen as the one team in the NBA universe with pockets deeper than the ocean, made what on the surface is a financial decision regarding Lin on the day the Nets re-signed Kris Humphries, bringing their offseason spending spree to more than $330 million.
The Knicks have made moves to bolster the point guard situation. They added veteran Hall-of-Famer-in-waiting Jason Kidd — a move that came with some repercussions after Kidd was arrested on a DWI rap on Long Island early Sunday.
And the Knicks on Monday reacquired Felton, who was dealt away in the Carmelo Anthony trade. Many saw Felton’s arrival as the harbinger of Lin’s departure.
League sources said Felton was told he would start for the Knicks which helped him readily accept the sign-and-trade to New York. Additionally, the Knicks plan to add Argentine point Pablo Prigioni after FIBA clears him from Spanish League commitments.
Lin became an international sensation — and the object of countless puns — after he helped revitalize the Knicks in February, starting with a superb game against, ironically, the Nets, who now threaten the Knicks for city supremacy from their Brooklyn perch.
Lin, on the verge of being waived, scored 25 points off the bench to lead a Knick victory over the Nets Feb. 4. The legend grew from there, exploding during a nationally televised victory over the Lakers on Feb. 10 at the Garden where he scored 38 points.
Lin played 35 games, starting 25, for the Knicks and averaged 14.6 points and 6.2 assists. He last played March 24 before injury shut down his season and caused him to miss the playoffs.
But even Lin’s stunning success was not without controversy. There was speculation he could not thrive with Anthony in an isolation offense favored by Mike Woodson who replaced coach Mike D’Antoni, under whom Lin took off via the pick-and-roll.
Lin’s best friend on the team, Landry Fields, is Toronto bound through another unmatched offer sheet, and J.R. Smith admitted there would be jealousy among teammates over Lin’s contract, a deal Anthony publicly called “ridiculous.”
— Additional reporting by Richard J. Marcus
fred.kerber@nypost.com