Lin and the team have reached an agreement, but are waiting for a FIBA Letter of Clearance from China. That type of document can be difficult to obtain on a weekend because international offices are closed, Stein adds.
Golden State was hoping to sign Lin and waive him before tonight’s waiver deadline so they can ensure they’ll have his G League rights (Twitter link). However, the transaction cannot be completed without the letter from FIBA.
The cost of waiting an extra day or two could be significant because the team is so far into the luxury tax, Stein notes. If the Warriors execute the move on Sunday rather than today, it would cost an extra $74,925 in tax penalties. Waiting until Monday would mean an extra $127,650 (Twitter link).
Lin, 32, has been working out in California recently with the G League Ignite, an NBAGL select team of top prospects and NBA veterans.
Update, 8:23pm: The Warriors would like to have Jeremy Lin under contract by 11pm Eastern today, but it may be hard to obtain the paperwork in time, tweets Marc Stein of The New York Times.
Update, 9:55pm: Lin’s Letter of Clearance didn’t arrive in time for the Warriors to sign and release him by today’s waiver deadline, reports Shams Charania of The Athletic. Having failed to do so by today, it sounds like Golden State won’t sign and waive Lin after all, having turned to undrafted rookie Elijah Pemberton instead.
Topic: Jeremy Lin loses G-league deal with Warriors because of document from China (Read 1525 times)