via Marc Stein of ESPN:
Lin was released Sunday by the Rockets to make roster room for Houston’s signing of Samuel Dalembert.
The Rockets had claimed Lin off waivers after he was released by the Golden State Warriors, who had to let him go to create the requisite salary-cap space for a four-year offer sheet worth nearly $43 million to then-restricted DeAndre Jordan that was matched by the Los Angeles Clippers.
Lin is a Bay Area native who played in 29 games last season as a rookie with the Warriors, becoming the NBA’s first Asian-American player since 1947.
Lin is a speedy, uptempo point guard, who can flourish in Mike D’Antoni’s offensive system. The terms of his contract are undisclosed, but sources are assuming the Knicks have used mini-exemption worth 1.1 million for one season.