HOUSTON, July 5 (Xinhua) -- The Houston Rocket agreed to terms with New York Knicks restricted free agent guard Jeremy Lin on Thursday, according to a local newspaper.
Lin will sign an offer sheet with the Rockets on July 11, The Houston Chronicle quoted a person with knowledge of the deal as reporting.
The first two seasons of the contract are worth 10.2 million U.S. dollars, and the third and fourth season is worth 9.3 million, with the fourth season at the team's option, according to the report.
The Knicks will have three days to match, the newspaper said. The Knicks have indicated that they would match any offer sheet Lin signs.
The Rockets waived Lin after 12 days in training camp, in part because they had Goran Dragic and Kyle Lowry on the position. Dragic agreed to sign with the Phoenix Suns on Wednesday and the Rockets traded Lowry to the Raptors on Thursday, a day after meeting with Lin in Houston, according to The Houston Chronicle.
Since earlier this year, Lin, a Harvard-educated guard and the first American-born NBA player of Chinese heritage, has become an international sensation, with his skills, humour and work ethic.
Lin averaged 22.1 points and 9.2 assists, making 47 percent of his shots, in his first 12 starts, keying a seven-game winning streak.