The Knicks have decided not to match Jeremy Lin's offer sheet with the Rockets, according to a report.
Lin signed a three-year, $25.1 million offer sheet with the Rockets that includes a balloon payment of $14.9 million in the third season.
The most the Knicks could offer Lin was $16.13 million on a three-year deal, and $28.75 million over five years.
Lin was forced to establish his own market and initially agreed to a three-year, $19.5 million deal with the Rockets that included a third year of $9.3 million. New York was prepared to match that offer sheet and the Rockets subsequently increased their offer to the contract he eventually signed.
The Knicks' front office has seemed intent on not matching Lin's offer sheet in recently days, but the final decision would be made by owner James Dolan.
A spokesman for the Knicks confirmed on Tuesday evening that they will not match Lin's offer sheet with the Rockets.