Report: Knicks Plan to Let Jeremy Lin Sign With Houston Rockets, Citing ‘Financial’ Decision

Report: Knicks Plan to Let Jeremy Lin Sign With Houston Rockets, Citing 'Financial' DecisionLin-sanity has finally met its end in New York, and a new chapter will begin in Houston.

The New York Knicks have finally decided not to match Jeremy Lin's three-year, $25.1 million offer sheet with the Rockets, meaning that the restricted free agent will be leaving the Big Apple.

"The decision was ultimately financial, not emotional," according to the New York Times' Howard Beck, pointing to the third year of Lin's deal, where the point guard is set to make $14.9 million.

Originally, Lin had agreed to a lesser deal with the Rockets, but when it became clear that the Knicks would match, according to Beck, Houston upped their offer in order to out-maneuver New York. Due to pre-existing contracts and the make-up of the league's salary cap, the Knicks have ultimately decided that the price would have been too steep for them to keep Lin.

While Beck points out that technically, the Knicks have until Tuesday at 11:59 p.m. to change their minds, there is an "incredibly small" chance that the team changes its mind.