New York Knicks/NBA(NEW YORK) -- Point guard Jeremy Lin has agreed to sign a four-year offer sheet with the Houston Rockets, a person familiar with the negotiations told USA Today Sports.

The deal is said to be worth $29 million with Lin making $10.2 million combined for the first two seasons and $9.3 million for each of the final two. The fourth season is a team option.

The New York Knicks have until July 11 to match the offer.

In 35 games with the Knicks last season, the 23-year-old Lin averaged 14.6 points and 6.1 assists.

Copyright 2012 ABC News Radio