1. Linsanity

    Jeremy Lin Heading Back to Texas

    Jeremy Lin #17 of the New York Knicks looks on against the Sacramento Kings at Madison Square Garden on February 15, 2012 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and/or using this Photograph, user is consenting to the terms and conditions of the Getty Images License Agreement.  (Photo by Chris Trotman/Getty Images)

    Chris Trotman / Getty Images

    It's official: Jeremy Lin is leaving New York. The Knicks decided to decline matching the Houston Rockets' offer to keep the surprise sensation around for another year.  Lin will spend next season with the Houston Rockets, who signed him to a three-year $25.1 million offer sheet. The Knicks had first-refusal rights on Lin and haduntil 11:59 p.m. to match the deal, but sources say that the decision had been made as of 4 p.m. and was considered final. Houston’s offer included a third-year balloon payment of $14.9 million, which would have cost the Knicks at least $35 million in luxury-tax penalties had they attempted to match it.

    Read it at The New York Times