Source: Knicks To Let Lin Go

Is Linsanity over for NY? Now that the Knicks have scooped up point guard Raymond Felton from the Portland Trail Blazers, it looks like the organization is going to let Jeremy Lin walk. The Houston Rockets have signed Lin to an offer sheet worth $25 million, and the Knicks have until midnight Tuesday to match it. However, sources tell ESPN it's highly unlikely the Knicks will try to keep Lin because that would require paying him $14.8 million in the third year of the contract, which could push the Knicks past the salary cap and cost them as much $30 million in salary and luxury tax for Lin alone.