Jeremy Lin agrees to terms on offer sheet [Update: Lin officially signs]

Man..

Morey must have wet himself when he started looking at the new CBA.

Did he WRITE the dang thing? Hehehehe

I think this is not really so much a middle finger to NYK as it is a big FU to the entire league, especially for them meekly sitting on their hands when Stern screwed us over in the offseason. Because once teams see what is happening here, they will start to do it to each other.

Cry Havoc! Let Loose The Dogs Of War!!

And there is not a damn thing they can do about it but suffer.

Inevitably though, some other team will try to do it to US, with our own RFA's, but hopefully we will manage our guys well enough to re-sign them to reasonable deals before they get to that point.

All we can do now is sit back and enjoy the carnage.

 

I certainly enjoyed reading that, and I hope revenge is at least somewhere in the back of Morey's mind. Probably not, but I like the image.

 

It's ridiculous really. They add any draft picks and that number goes up. If they use their exception to add a player it goes up. Wowza.

I mean basically if they keep Lin and add players in an effort to win a title they are going to be paying an astronomical luxury tax bill. You just showed it at 52.5 million but it could easily get up into the $70 million range after draft picks and subsequent additions. In order to avoid that kind of number they'd have to basically punt on competing for a title for a few years.

This is a brutal pill.

 

Per CBS Sports - Jeremy Lin officially signs offer sheet with the Rockets

Looks like the Rockets really want Jeremy Lim or want to make it really painful for the Knicks to match. :grin:
The terms of the deal have been modified.
The original deal that was discussed last week was for four years and totaled $28 million.
Year 1 $5.0 Million
Year 2 $5.22 Million
Year 3 $9.3 Million
Year 4 $9.3 Million (team option)
Total = 28.82

The new deal is for three years and 25.1 million structured as follows:
Year 1 $5.0 Million
Year 2 $5.22 Million
Year 3 $14.898 Million

The third year poison pill will make New York think hard about matching because it could take them into luxury tax territory.

Here is the link
http://www.cbssports.com/nba/blog/e...officially-signs-offer-sheet-with-the-rockets

The original thread was way too long (31 pages).
http://bbs.clutchfans.net/showthread.php?t=222654&page=31

 

Spoiler

Awesome post

This new CBA has so many goodies in it.

 

at least he didnt do it to just NYK, CHI is up next. lol

This is exactly why agents dont like him and why we have such a hard time trading with teams.... but this is a nice backstory for the future of the NBA and what may now be some love hate going on with us and NY

 

Do we have a hard time trading? Seems like Morey trades non-stop. Isn't that one of the things people complain about? And do agents really not like him? Looks like at least two agents liked him enough to help him do this deal.

 

I was looking...couldn't see anything on last year of their deals, but there salaries look high enough that the Knicks may have to do something to avoid being a repeat offender of luxury tax by the third year. If they are a repeat offender and Lin's entire salary is luxury tax...Lin would cost them 58 million dollars in last season.

 

Good call. So they are surely in the $3.5/dollar over category should they match. Essentially, the raise from the previously reported 10M to 15M on the third year will cause the Knicks (5M x 3.5 + 5M) 22.5M more should they match the contract. Ouch!

 

it's news to me!

 

WOMP WOMP WOMP. Knicks will match, nothing special

 

It has been mentioned that a few agents steer their players from us. and I most of our other trades have come from some of the same teams. IE: Sactown... just saying (my thoughts, nothing said before)

 

I wonder how the Knicks blogs are reacting to Morey changing the deal? They must be going ballistic.

 

The Knicks are matching. Will take full use of 3 days.

 

$8.3m seems a bit high for Lin at this point. Though he does have the potential to make that contract look like a bargain.

 

Don't forget the repeater tax. If they are over the tax line in 3 years and have been previous 3 years they pay an extra dollar meaning if they are $15 Mil over in year three they will pay $4.25 Mil per dollar, meaning the tax bill would be $63.75 Mil that year.

 

This is freaking gold. Awesome. If they match though, bc i sure as hell don't want him for that contract.

 

yes! there is a multiplier for repeat offenders..... 63.75/by 26 teams...
each team gets 2.5M

 

Will need to do a more thorough examination, but my quick look gets me to believe that the Knicks could easily be sitting at somewhere around $90 million in salaries in that 3rd year. The Knicks could be swallowing a $66 million tax payment for an effective payroll of $150 million.

LOL

Edit: if the 4.5 number is right, they would have a tax bill of 85.5 million!!! for a Payroll of $175 million.

Trollolololol

 

Amare - $23.4 million
Melo - $23.5 million (player option)
Chandler - $14.6 million
Shumpert - $2.8 million
Kidd - $3.3 million
Camby - $3.3 million
Novak -$4 million

Before Lin ~ $74.9 million, 7 players
After Lin ~ $89.5 million, 8 players

Are you kidding? They would do the same thing. Who does not want both money and a better team?