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Published on Jul 17, 2012
Jeremy Lin may say bye-bye to the New York Knicks if they don't match the Houston Rockets' three-year $25 million dollar offer.
The New York Knicks have until Tuesday night to match the offer, including the final-year $14.8 million dollar balloon payment, proposed by the Rockets. Many are speculating that the Knicks will pass on this offer.
The 23-year-old point guard exploded in popularity last year, but is he worth $25 million? One thing to consider is New York's luxury tax which puts a $70.3 million cap on the payroll.
Every dollar over that amount must go back to the state in taxes. If Lin stays on the New York Knicks, the team would have to pay around $30 million in luxury tax after taking the other players' salaries into consideration.
Besides the fact that Lin basically revived the New York Knicks, he shows huge amounts of potential. Are the New York Knicks making a huge mistake by potentially passing on this bright star?
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