Knicks officially acquire Felton, no word on Lin

The SportsXchange

The New York Knicks announced on Monday they've acquired point guard Raymond Felton in a sign-and-trade with the Portland Trail Blazers, a move that had been reported earlier.

However, the Knicks did not state whether they plan to match Jeremy Lin's three-year, $25.1 million offer sheet from the Houston Rockets or to let let Lin go.

The Rockets' offer to Lin would pay him $5 million in the first year, $5.225 million in the second and $14.8 million in the third, ESPN.com. It's the third year that is giving the Knicks pause, because it would force the Knicks to pay a luxury tax.

The Knicks have until 11:59 p.m. on Tuesday night to decide whether to match the Rockets' offer sheet to Lin.

USA Today reported Felton received a three-year, $10 million deal.

The Knicks acquired Felton and Kurt Thomas from the Trail Blazers in exchange for Jared Jeffries and Dan Gadzuric,
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