The New York Knicks agreed to acquire point guard Raymond Felton in a sign-and-trade deal with the Portland Trail Blazers on Saturday, an indication they might be losing interest in re-signing Jeremy Lin.
The Knicks also will receive forward Kurt Thomas and will send forwards Jared Jeffries and Dan Gadzuric to the Trail Blazers, a league source told Newsday.
Felton remained on the Knicks radar after they lost out on Steve Nash. Talks apparently heated up after Lin signed a three-year, $25.1 million offer sheet with Houston that includes an escalator that pays him $14.9 million in the third year.
The Knicks received the offer sheet Saturday night, according to ESPN.com, meaning they have until Tuesday night to match the offer or lose Lin to the Rockets.
It is a hefty price to pay for the still unproven Lin, especially considering the Knicks have around $70 million committed to Carmelo Anthony, Amare Stoudemire, Tyson Chandler, Jason Kidd and Steve Novak for the 2014-15 season.
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Knicks won t match Houston s offer to Lin after trading for Felton: source
Knicks Blog
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By MARC BERMAN
Last Updated: 7:25 AM, July 15, 2012
Posted: 2:23 AM, July 15, 2012
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