The New York Times is reporting that the Knicks will not match Houston’s contract for Jeremy Lin. According to those involved in the deliberation process, the final decision to let Lin go was made at 4pm (EST) by James Dolan. The Knicks technically have until 11:59pm to change their minds, but according to someone briefed on the situation; it’s over.
The Knicks wanted Jeremy on the team and Jeremy wanted to be on the Knicks, but the issue at the end of the day was money. Houston simply offered more money than even the New York Knicks could offer. And since the Knicks were already over the salary cap, Lin’s new contract would’ve financially crippled the organization.
Petitions have been started by fans online through various blogs and other forums, but to no avail. Linsanity is now taking his talents to Houston.