19 Jul 2012

Knicks to let Lin go to Rockets

12:07 pm on 19 July 2012

The New York Knicks will cut ties with Jeremy Lin, allowing the popular point guard who spawned "Lin-sanity" in New York to head to NBA rivals the Houston Rockets.

Lin's fate has been the subject of intense speculation since he became a restricted free agent this month and he has inked a $US25 million offer sheet with the Rockets, including a $US14.9 million scheduled payment for the third year, which would have cost the Knicks millions in luxury-tax penalties on excessive salaries.

Lin, whose parents are from Taiwan and who has a grandmother from China, became a smash Broadway hit during last season after having been cut by two NBA clubs - including the Rockets.