Raymond Felton is returning to New York, calling into question whether the Knicks plan to re-sign fellow point guard Jeremy Lin.

Felton's agent confirmed a Yahoo Sports report Saturday that Felton would be signed and traded by Portland to New York.

Lin has signed an offer sheet with the Houston Rockets, and the Knicks have repeatedly said they would match any offer for their breakout star. But with the third year of the contract worth about $15 million, they can certainly pass now after signing Jason Kidd and getting Felton back.

Felton played well in half a season in New York, averaging 17.1 points before the Knicks sent him to Denver as part of the package for Carmelo Anthony in February 2011. He struggled this season with the Trail Blazers, scoring 11.4 points per game on 40.7 percent shooting and briefly losing his starting job.

Still, he was considered an option as a veteran backup to Lin if the Knicks didn't get Steve Nash or Kidd. They signed Kidd, and still pursued Felton.

Now the question is where will Lin play next season.

Coach Mike Woodson said Wednesday that Lin would not only be back but would enter next season as the Knicks' starting point guard. He then signed his offer sheet worth about $25 million for three years Friday and the Knicks have until 11:59 p.m. EDT Tuesday to match the offer, according to a person with knowledge of the process. The person spoke to The Associated Press on condition of anonymity because the contract had not been announced.

The Knicks already lost one guard Saturday when they elected not to match the offer Landry Fields signed with Toronto, worth around $20 million over three years. The second-round pick from Stanford had been a starter during his two seasons with New York.

"I want to thank ALL the Knick fans out there for their support over the past two years!" he wrote on Twitter. "Much love and respect, you will be missed."

It would be more surprising if the Knicks passed on matching Lin's offer. The undrafted guard from Harvard emerged as the starter in February and averaged 17.9 points in 27 games before needing surgery to repair torn knee cartilage. The league's first American-born player of Chinese or Taiwanese decent became one of the team's most popular players and helped the Knicks draw huge TV ratings locally and in Asia. His merchandise sold heavily, making it unlikely the Knicks would want him to leave.

But with Kidd and Felton, they have two veterans who would be respected by the Knicks' frontcourt trio of Carmelo Anthony, Tyson Chandler and Amare Stoudemire. Stoudemire and Felton had good chemistry in the pick-and-roll offense and neither has been as good since without the other.

UPDATE: With Raymond Felton heading back to New York, Lin's status remains murky. Although it had previously been reported that Knicks were expected to match Houston's offer sheet, a league source told Marc. J Spears of Yahoo! Sports that it is now "highly doubtful" the overnight sensation will be back for a second season in Manhattan. Asked about the deal that Lin signed with the Rockets, Carmelo Anthony described it as "ridiculous." Despite the swirling rumors, Jordan Schultz of The Huffington Post cites sources saying that Lin is likely to return to New York despite the club being weary of the cost of the deal.

UPDATE 7/15 6:13 pm: Although the Knicks have until Tuesday at 11:59 p.m. to decide to match Lin's offer from the Houston Rockets, it seems increasingly unlikely that he'll be back in New York.


Jordan Schultz
A fourth source jumps in telling me both Lin and Knicks haven't spoken in a while and both appalled by one another; not matching.


Alex Kennedy
Source close to Jeremy Lin: "I don't think the Knicks will match. I think he's heading to the Rockets."

UPDATE: 7/15 7:22 pm: Sam Amick of Sports Illustrated tracked down Knicks shooting guard J.R. Smith, who spoke about Lin as if he certainly not returning to New York. Not only did Smith seem to think that Lin would be playing in Houston next season but he also admitted that the size of Lin's contract could be a point of contention among players.

"I think some guys take it personal, because they've been doing it longer and haven't received any reward for it yet," Smith told Amick. "I think it's a tough subject to touch on for a lot of guys."

Also on HuffPost:

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  • Palo Alto guard Jeremy Lin, center, celebrates with teammates Steven Brown, left, Cooper Miller, and Brian Karvaries, right, after Palo Alto beat Mater Dei of Santa Ana in the boys' Division II CIF state basketball championship game in Sacramento, Calif., on Friday, March 17, 2006. Palo Alto won 51-47. (AP Photo/Steve Yeater)

  • Mater Dei of Santa Ana's Kamyron Brown, center, tries to drive between Palo Alto's Jeremy Lin, left, and Kheaton Scott during the third quarter of the boys' Division II CIF state basketball championship game in Sacramento, Calif., Friday, March 17, 2006. Palo Alto defeated Mater Dei 51-47. (AP Photo/Rich Pedroncelli)

  • Palo Alto guard Jeremy Lin, right, runs into Mater Dei of Santa Ana defender Alex Jacobson while driving to the basket during the second half of the boys' Division II CIF state basketball championship game in Sacramento, Calif., on Friday, March 17, 2006. Palo Alto won 51-47. (AP Photo/Steve Yeater)

  • Stanford's Anthony Goods (4) drives against Harvard's Jeremy Lin in the first half of a basketball game Friday, Nov. 9, 2007, in Stanford, Calif. (AP Photo/Ben Margot)

  • UC Santa Barbara's Alex Harris (12) drives against Harvard's Jeremy Lin (11) in the first half of a basketball game Saturday, Nov. 10, 2007, in Stanford, Calif. (AP Photo/Ben Margot)

  • Harvard's Jeremy Lin (11) keeps the ball away from Michigan's Manny Harris (3) in the second half of a basketball game Saturday, Dec. 1, 2007, in Boston. Harvard won 62-51. (AP Photo/Michael Dwyer)

  • Harvard's Jeremy Lin, left, takes a shot against Michigan's DeShawn Sims (34) in the second half of a basketball game, Saturday, Dec. 1, 2007, in Boston. Harvard won 62-51. (AP Photo/Michael Dwyer)

  • In this Jan. 7, 2009, file photo, Harvard's Jeremy Lin (4) drives for the basket in front of Boston College's Rakim Sanders during the first half of an NCAA college basketball game in Boston.

  • Harvard's Jeremy Lin, left, drives past Connecticut's Gavin Edwards during the second half of Connecticut's 79-73 victory in their NCAA college basketball game in Storrs, Conn., on Sunday, Dec. 6, 2009. Lin scored a game-high 30 points with nine rebounds and Edwards scored 12 points with five rebounds. (AP Photo/Fred Beckham)

  • Connecticut's Jerome Dyson, right, has his shot blocked by Harvard's Jeremy Lin during the second half of Connecticut's 79-73 victory in their NCAA college basketball game in Storrs, Conn., on Sunday, Dec. 6, 2009. Lin scored a game-high 30 points with nine rebound and Dyson scored a team-high 24 points with 14 rebounds. (AP Photo/Fred Beckham)

  • In this Dec. 9, 2009, file photo, Harvard's Jeremy Lin (4) drives by Boston College's Biko Paris, left, during the first half of an NCAA basketball game in Boston.

  • Harvard's Jeremy Lin, right, dives for the ball as Boston College's Corey Raji (11) tries to control it during the second half of an NCAA basketball game in Boston, Wednesday, Dec. 9, 2009. Harvard won 74-67. (AP Photo/Elise Amendola)

  • Georgetown's Austin Freeman (15) shoots the ball against Harvard's Jeremy Lin (4) and Christian Webster (1) during the second half of an NCAA college basketball game, Wednesday, Dec. 23, 2009, in Washington. Georgetown won 86-70.(AP Photo/Nick Wass)

  • Georgetown's Chris Wright, left, battles for the ball with Harvard's Jeremy Lin, right, during the first half of an NCAA college basketball game, Wednesday, Dec. 23, 2009, in Washington. (AP Photo/Nick Wass)

  • Harvard's Jeremy Lin (4) goes to the basket as Georgetown's Greg Monroe (10) defends during the first half of an NCAA college basketball game, Wednesday, Dec. 23, 2009, in Washington.

  • Dallas Mavericks' Jeremy Lin wipes his face during an NBA Summer League basketball game against Milwaukee Bucks' in Las Vegas on Monday, July 12, 2010.

  • Dallas Mavericks' Jeremy Lin, shoots a free throw during an NBA Summer League basketball game against the Milwaukee Bucks in Las Vegas on Monday, July 12, 2010. (AP Photo/Laura Rauch)

  • Dallas Mavericks' Jeremy Lin tries to shoot over Milwaukee Bucks' Dominic James as Milwaukee's DeMarcus Nelson, left, looks on during an NBA summer league basketball game in Las Vegas on Monday, July 12, 2010.

  • New Golden State Warriors guard Jeremy Lin poses with his parents, Gie-ming, right, and Shirley, left, during a news conference at the NBA basketball team's headquarters in Oakland, Calif., Wednesday, July 21, 2010. Lin was an undrafted free agent from Harvard, and is a Bay Area native.

  • New Golden State Warriors guard Jeremy Lin spins a basketball during a news conference at the NBA basketball team's headquarters in Oakland, Calif., Wednesday, July 21, 2010. Lin was an undrafted free agent from Harvard.

  • NBA player of the Golden State Warriors, Jeremy Lin spins a basket ball during a press conference, Wednesday, July 28, 2010, in Taipei, Taiwan.

  • Golden State Warriors' Reggie Williams, left, interviews teammate Jeremy Lin during the NBA basketball team's media day in Oakland, Calif., Monday, Sept. 27, 2010.

  • Golden State Warriors' Jeremy Lin, left, looks to pass away from Portland Trail Blazers' Raymond Sykes (25) during the first half of a preseason NBA basketball game Monday, Oct. 18, 2010, in Oakland, Calif.

  • Golden State Warriors point guard Jeremy Lin (7) against the Los Angeles Clippers in an NBA basketball game in Oakland, Calif., Friday, Oct. 29, 2010. (AP Photo/Jeff Chiu)

  • Golden State Warriors center David Lee (10), right, jokes with point guard Jeremy Lin (7) as Lin replaces Lee in the fourth quarter of an NBA basketball game against the Los Angeles Clippers in Oakland, Calif., Friday, Oct. 29, 2010.

  • Los Angeles Lakers power forward Lamar Odom (7) left, and Golden State Warriors point guard Jeremy Lin (7) battle for the ball during the second half of an NBA basketball game in Los Angeles , Sunday, October 31, 2010. The Lakers won 107 to 83.

  • Denver Nuggets point guard Anthony Carter (25) guards Golden State Warriors point guard Jeremy Lin (7) in the fourth quarter of an NBA basketball game in Oakland, Calif., Monday, Nov. 22, 2010. Denver Nuggets defeated the Golden State Warriors 106-89.

  • Golden State Warriors point guard Jeremy Lin (7) watches the Warriors lose to the Denver Nuggets in an NBA basketball game in Oakland, Calif., Monday, Nov. 22, 2010. Denver Nuggets defeated the Golden State Warriors 106-89.

  • Golden State Warriors point guard Jeremy Lin (7) against the Sacramento Kings in an NBA basketball game in Oakland, Calif., Sunday, April 10, 2011. The Kings won 104-103.

  • Golden State Warriors point guard Jeremy Lin against the Denver Nuggets in an NBA basketball game in Oakland, Calif., Wednesday, Feb. 9, 2011.

  • Jerry West, right, shakes hands with Golden State Warriors guard Jeremy Lin, left, as Warriors center Ekpe Udoh looks on, before being introduced as a new member of the basketball club's Executive Board, in San Francisco, Tuesday, May 24, 2011. West, 72, will assist the Warriors' ownership group and represent the organization in a wide variety of team-related functions in his role with the club. The position will encompass various areas and responsibilities, ranging from basketball operations to business, sponsorship and marketing endeavors.

  • Golden State Warriors' Stephen Curry, center, has the ball stripped by Jeremy Lin, left, and David Lee during a voluntary basketball practice session, Wednesday, Dec. 7, 2011, in Oakland, Calif.

  • Houston Rockets Media Day

    Houston Rockets' Jeremy Lin during their NBA basketball media day Thursday, Dec. 15, 2011, in Houston.

  • Houston Rockets' Courtney Lee (5) blocks a pass from New York Knicks' Jeremy Lin (17) in the second half of an NBA basketball game, Saturday, Jan. 28, 2012, in Houston.

  • Detroit Pistons forward Austin Daye (5) defends against New York Knicks guard Jeremy Lin (17) who looks to pass in the second half of their NBA basketball game at Madison Square Garden in New York, Tuesday, Jan. 31, 2012.

  • New Jersey Nets' Deron Williams, right, drives to the basket against New York Knicks' Jeremy Lin during the fourth quarter of an NBA basketball game Saturday, Feb. 4, 2012, at Madison Square Garden in New York.

  • New York Knicks' Jeremy Lin, left, looks to pass the ball as he is guarded by New Jersey Nets' Deron Williams during the fourth quarter of an NBA basketball game Saturday, Feb. 4, 2012, at Madison Square Garden in New York.

  • New York Knicks' Jeremy Lin takes a shot during the fourth quarter of an NBA basketball game against the New Jersey Nets Saturday, Feb. 4, 2012, at Madison Square Garden in New York.

  • New Jersey Nets' Jordan Williams (20) avoids foulingNew York Knicks' Jeremy Lin during the second quarter of an NBA basketball game Saturday, Feb. 4, 2012, at Madison Square Garden in New York.

  • New York Knicks' Jeremy Lin drives to the basket during the second quarter of an NBA basketball game New Jersey Nets Saturday, Feb. 4, 2012, at Madison Square Garden in New York.

  • New York Knicks guard Jeremy Lin reacts after hitting a basket during the fourth quarter of an NBA basketball game against the New Jersey Nets, Saturday, Feb. 4, 2012, at Madison Square Garden in New York. Lin led all scorers with 25 points as the Knicks defeated the Nets 99-92.

  • New York Knicks' point guard Jeremy Lin (17) shoots over Utah Jazz's power forward Paul Millsap (24) during an NBA basketball game on Monday, Feb. 6, 2012, in New York.

  • New York Knicks' point guard Jeremy Lin (17) drives the ball against Utah Jazz's point guard Earl Watson (11) during an NBA basketball game on Monday, Feb. 6, 2012, in New York.

  • New York Knicks' point guard Jeremy Lin (17) leaves the court with teammates after the Knicks defeated the Utah Jazz 99-88 in an NBA basketball game against the Utah Jazz on Monday, Feb. 6, 2012, in New York.

  • New York Knicks v Washington Wizards

    WASHINGTON, DC - FEBRUARY 08: Jeremy Lin #17 of the New York Knicks warms up before the start of the Knicks and Washington Wizards game at Verizon Center on February 8, 2012 in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Rob Carr/Getty Images)

  • New York Knicks v Washington Wizards

    WASHINGTON, DC - FEBRUARY 08: Fans of Jeremy Lin #17 of the New York Knicks hold up signs during the second half of the Knicks and Washington Wizards game at Verizon Center on February 8, 2012 in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Rob Carr/Getty Images)

  • New York Knicks v Washington Wizards

    WASHINGTON, DC - FEBRUARY 08: Jeremy Lin #17 of the New York Knicks drives to the basket against the Washington Wizards during the first half at Verizon Center on February 8, 2012 in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Rob Carr/Getty Images)

  • New York Knicks v Washington Wizards

    WASHINGTON, DC - FEBRUARY 08: Jeremy Lin #17 of the New York Knicks works the ball against John Wall #2 of the Washington Wizards at Verizon Center on February 8, 2012 in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Rob Carr/Getty Images)

  • New York Knicks v Washington Wizards

    WASHINGTON, DC - FEBRUARY 08: Jeremy Lin #17 of the New York Knicks celebrates with teammate Jared Jeffries #9 during the first half against the Washington Wizards at Verizon Center on February 8, 2012 in Washington, DC. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Rob Carr/Getty Images)

  • Los Angeles Lakers v New York Knicks

    NEW YORK, NY - FEBRUARY 10: Jeremy Lin #17 of the New York Knicks drives for a shot attempt in the first quarter against the Los Angeles Lakers at Madison Square Garden on February 10, 2012 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Chris Chambers/Getty Images)

  • Los Angeles Lakers v New York Knicks

    NEW YORK, NY - FEBRUARY 10: Kobe Bryant #24 of the Los Angeles Lakers drives in the second quarter against Jeremy Lin #17 of the New York Knicks at Madison Square Garden on February 10, 2012 in New York City. NOTE TO USER: User expressly acknowledges and agrees that, by downloading and or using this photograph, User is consenting to the terms and conditions of the Getty Images License Agreement. (Photo by Chris Chambers/Getty Images)