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An arbitrator has granted Jeremy Lin his so-called early-Bird rights, which will give the Knicks much greater latitude in free agency on July 1, according to a person who was informed of the ruling. The ruling means that both Lin and Steve Novak of the Knicks will be able to re-sign with the team without respect to the salary cap, for a starting salary around $5 million each. Just as critically, it means that the Knicks will not need to use their midlevel exception to sign either player, which will allow them to use that slot for another free agent.
Thats the best Knicks news in 2012