The reign of Linsanity looks to be a short one in New York.
In a tumultuous weekend for the Knicks, the team won't match the Rockets' offer to point guard Jeremy Lin, ESPN reported.
That came on the heels of:
• All-Star forward Carmelo Anthony calling Lin's three-year, $25 million offer sheet a "ridiculous contract."
• Newly signed point guard Jason Kidd getting arrested on a drunken-driving charge in the Hamptons.
• A deal for another point guard, Raymond Felton, who would join the club after a sign-and-trade deal with the Blazers for forward Jared Jeffries.
The key to the offer sheet for Lin is the third-year balloon payment of $14.98 million. Under the new luxury-tax system, which punishes teams that wildly exceed a determined salary threshold, matching the sheet could cost the Knicks an additional $35 million to $45 million in tax payments.
Lin's salary in the third year would be the club's third largest that season, behind only Anthony and Amare Stoudemire. Even for high-priced NBA players, the offer appeared staggering. "It's up to the organization to say they want to match that ridiculous contract," Anthony said. But he added, "I would love to see (Lin) back, but I think he has to do what's best for him right now."
New York has until 11:59 p.m. Tuesday to match the offer for Lin.
Kidd was arrested after crashing his SUV into a telephone pole in Watermill, N.Y., on Long Island early Sunday. Treated at a hospital for minor injuries, Kidd, 39, was arraigned on misdemeanor DWI and released without bail, Southampton Town police said.
Magic coaching job: Pacers associate head coach Brian Shaw and Warriors assistant Michael Malone are no longer candidates for the job, the Orlando Sentinel reported.
Cavs: Guard Kyrie Irving, who broke his right hand Saturday during a practice, will have it examined by doctors today. He's expected to miss 6-8 weeks.
Grizzlies: St. Petersburg native and former Gator Marreese Speights re-signed for two years and $9 million, the Commercial Appeal reported.
Suns: The team won the bidding for forward Luis Scola and used the amnesty clause to cut Josh Childress.
T'WOLVES: Restricted free agent forward Nicolas Batum signed a four-year, $46 million offer sheet. The Blazers have three days to match.