THE New York Knicks acquired Jason Kidd Thursday, but will have to match an offer sheet by the Houston Rockets to keep star point guard Jeremy Lin.
According to a report by ESPN.com, Kidd agreed to sign a three-year contract with the Knicks and leave the Dallas Mavericks. Kidd moved to the Knicks due in large part to his interest to mentor Lin.
However, Lin has signed a four-year offer sheet reportedly worth US $28.8 million with the Rockets, according to multiple sources.
With Lin being a restricted free agent, the Knicks can either match the offer or allow Lin to move to the Rockets. New York is expected to match Houston’s offer after Kidd’s acquisition.
In other free agency news, Jameer Nelson tweeted that he has agreed in principle to remain with the Orlando Magic.
The Rockets will trade Kyle Lowry to the Toronto Raptors for guard Gary Forbes and a first-round draft pick, according to SI.com.
After the departure of Steve Nash, the Phoenix Suns have acquired Goran Dragic and Michael Beasley.
Jamal Crawford has also signed with the Los Angeles Clippers, which will also retain Chauncey Billups.
Brandon Bass will remain with the Boston Celtics.
All contract signings begin July 11.