Jeremy Lin Trade Drama Continues with Carmelo Anthony Calling Contract Offers 'Ridiculous'

Is 'Linsanity' worth up to $15 million in one year? (Photo : REUTERS/Ray Stubblebine)

New York might be losing its freshest celebrity. The current speculation around whether or not Jeremy Lin will be heading to the Houston Rockets centers around an incredibly fat paycheck. In fact, the contract is so lucrative for an NBA player with such little experience that teammate Carmelo Anthony has called the offers "ridiculous."

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Before practice on Sunday with the U.S. Olympic basketball team, Anthony had this to say to reporters.

"It's up to the organization to say they want to match that ridiculous contract that's out there."

The New York Knicks have until 11:59 p.m. ET to figure out if they can offer Lin more than $25 million over the next three years. The Houston Rockets are offering him a $25.1 million contract that would pay Lin $14.8 million in the third year. The high third year figure alone points to New York not matching the offer.

The Knicks would be strangled by the NBA's new luxury tax system which would mean that the total cost for Lin alone would be somewhere around $35 million in the third year.

Despite the obvious accounting hurdles, the Knicks have kept a relatively upbeat attitude about Lin playing in Madison Square Garden.

In the same interview Anthony added, "I'd love to see him back."

Even after the trade for veteran champion Jason Kidd, Coach Mike Woodson insisted that Jeremy will definitely start next season's training camp as the starter.

However, a look at the Knicks official team store website shows that there is no Jeremy Lin apparel available for purchase.

Jeremy Lin burst into the NBA last season by coming off the bench and eventually landing a place as a starter. His Asian roots and fresh face made him an instant celebrity, especially after he revitalized the Knicks and led them to seven straight wins in February. His season was cut short by a torn cartilage in his knee, and had to sit out the rest of the normal season and playoffs.

Where would you like 'Linsanity' to end up? And do you think that Lin is worth so much money?