Reports: Rockets to offer Jeremy Lin at least three-year, $24 million deal

We already know about the ESPN report that free-agent point guard Jeremy Lin will be spending the Fourth of July with one of his former clubs, the Houston Rockets.

Now comes word, from Jonathan Feigen of the Houston Chronicle, that the Rockets will indeed make Lin an offer.

The Twitter feed of MySportsLegion.com cites a source who says that Houston will offer Lin a three-year, $24 million deal. Chris Broussard of ESPN.com already wrote that the Knicks may not be able to match a backloaded offer sheet, and Alex Kennedy of HoopsWorld.com tweets that the Rockets offer could include salaries of $5 million, $5.2 million and $13.8 million.

Kennedy also indicated that Houston might be willing to add a year and go to four years and $32 million.

Lin spent 12 days with the Rockets during the preseason last December and was waived on Dec. 24. General manager Daryl Morey famously tweeted after Linsanity took hold in New York: "We should have kept [Jeremy Lin]. Did not know he was this good. Anyone who says they knew misleading U."