But is he worth $30 million?
The person told The Associated Press on Thursday on condition of anonymity because the team hadn’t officially announced the deal.
Lin can sign the offer sheet with Houston on July 11, and the Knicks will then have three days to match the offer.
The Knicks have repeatedly said that they plan to keep Lin.
The contract is worth $10.2 million over the first two seasons and $9.3 million in each of the last two years. The fourth season is a team option.
The person also told the AP that the Rockets traded Kyle Lowry to Toronto on Thursday for a future first-round draft pick with lottery protection and forward Gary Forbes. Lowry averaged 14.3 points and 6.6 assists in 47 games for Houston last season.
The Rockets had Lin in training camp, but waived him because they had already had Lowry and Goran Dragic on their roster. Now that they’ve traded Lowry, and with Dragic headed to Phoenix, Houston is trying to get Lin back.
The rest here.