The dreaded "Poison Pill" the New York Knicks were afraid of, has been offered to Jeremy Lin.

The Houston Rockets will offer Lin a backloaded four-year contract worth around $30 million, according to a report in the New York Post.

The Post, citing league sources, said the deal would pay the point guard $5 million in the first year, $5.2 million in the second and $10 million each in the third and fourth years.

"Jeremy Lin's an excellent player," Rockets general manager Daryl Morey told The Post.

"We got to know him firsthand when he was with the Rockets early this season. We think he'd make a fantastic addition to our team."

Lin, who pulled out of the US Select team citing free agency, is an unrestricted free agent and can sign for any franchise, if the Knicks fail to match the offer made by another team.

A backloaded contract, with higher salaries in the final years, is exactly the kind of deal that New York would hesitate to match.

The new collective bargaining agreement comes into effect from the 2013-14 season, with a highly punitive luxury tax. The Knicks are reportedly concerned about the ramifications, if they agree to such a deal, given the long-term salaries of Carmelo Anthony, Amare Stoudemire and Tyson Chandler, they are already committed to.

The Knicks can offer Lin around $25 million over four years. Lin averaged 14.2 point and 6.2 assists per game before injury ruled him out of the latter part of the regular season and the Knicks' entire post season.