HOUSTON (AP) -- A person with direct knowledge of the move says Knicks guard Jeremy Lin has signed an offer sheet with the Houston Rockets.
The person spoke to The Associated Press on Friday night on condition of anonymity because the move was not announced.
Another person familiar with the negotiations says it's a three-year deal worth about $25 million. The person, who spoke on condition of anonymity because the terms had not been announced, says the third year is worth about $15 million.
Lin is a restricted free agent and New York is expected to match Houston's offer within the required three days.
Lin was briefly in Rockets training camp before the season began. Houston waived him because they had already had Kyle Lowry and Goran Dragic on their roster.
Earlier Friday, the Rockets waived Luis Scola via the amnesty clause.