FILE - In this Feb. 10, 2012, file photo, New York Knicks' Jeremy Lin reacts after making a 3-point basket during the second half of an NBA basketball game against the Los Angeles Lakers in New York. Lin will visit the Houston Rockets on Wednesday, June 4, 2012, two people with knowledge of the plans said, and the Knicks restricted free agent is expected to get a contract offer. The Rockets waived Lin last December and he was claimed by the Knicks, turning into a breakout star when he landed the starting point guard job. Now with Goran Dragic not expected to return, Houston may want Lin back. (AP Photo/Frank Franklin II, File)
July 05, 2012 - 9:27 PM
HOUSTON - A person with knowledge of the deal says New York Knicks restricted free-agent guard Jeremy Lin and the Houston Rockets have agreed to terms on a four-year contract offer.
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 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.
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AP Sports Writer Chris Duncan contributed to this report.
News from © The Associated Press, 2012