The four-year deal is reportedly worth $10.2 million over the first two seasons and $9.3 million in each of the last two years, with the fourth being a team option. While’s its more than the Knicks could originally offer — NYC can offer a four-year contract worth $24.5 million — they have the ability to match the offer to keep Lin on New York.

The Knicks will have three days to match the Rockets’ offer after Lin signs on July 11.

ESPN reporters say the Knicks have every intention of matching the offer, especially aftersigning Jason Kidd as a back-up, but it’s still up in the air until next week.

The Rockets originally had Lin in training camp last season, but waived him because guards Kyle Lowry and Goran Dragic were on their roster. After trading Lowry to Toronto this week, and with Dragic headed to Phoenix, Houston is in desperate need of a point guard and hope Lin is him.

The 23-year-old — who went undrafted out of Harvard — became a sensation last season, due to a remarkable stretch in February where he scored at least 20 points in nine of 10 games. In one game during the streak, he scored 38 points with seven assists in a 92-85 win over the Lakers on February 10th.

Lin averaged 14.6 points, 6.2 assists and 3.1 rebounds in 35 games with 25 starts last season, before going down because of surgery to repair torn cartilage in his knee.

The Rockets hope to capitalize on Lin’s marketability in Asia. The franchise is already popular there, because of the career of former star Yao Ming, who retired in 2011. Lin’s addition could add to their appeal there as the first American-born player of Chinese or Taiwanese decent.

Stay tuned…

Jason Kidd is saying good bye to the Dallas Mavs, following his first NBA title in 2011, and is headed to the New York Knicks. According to ESPN.com, the 39-year-old guard will sign a three-year deal worth $9 million.

Kidd told the network that he thinks he “can help” the Knicks, and added that he felt the team had more “pieces to work with” than the Mavs. He averaged 6.2 points and 5.5 assists last season, his 18th in the NBA. Kidd ranks second all-time with 11,842 assists, trailing only John Stockton (15,806).

Out in Los Angeles, the Clippers have ceased talks with Boston vet Ray Allen, and re-signedChauncey Billups and added Jamal Crawford.

Billups, who played 20 games with the Clippers last season before injuring his Achilles’ heel, is signing a one-year deal, sources said, worth around $4.3 million. Crawford, who opted out of the last year of his deal with the Trail Blazers, will get a four-year deal for between $21 million and $25 million, said ESPN. The L.A. Times, however, reported that it would be a three-year deal for $15.7 million. Stay tuned…

With Billups, the team has options at both backcourt spots. He played out of position at shooting guard at the beginning of last season and was successful, but after his injury, another point guard, Mo Williams, stepped in to fill the spot. Crawford gives the Clips a traditional shooting guard.

Up top, in Toronto, the Raptors have acquired guard Kyle Lowry from the Houston Rockets in exchange for forward Gary Forbes and a protected future first-round draft pick. Lowry is a seventh-year pro, who averaged 14.3 points and 6.6 assists per games last year for the Rockets. He is a versatile guard, one the Raptors could use after losing their pursuit for Steve Nash to the Lakers.

The Magic continue to look for trade options for Dwight Howard, and are trying to solidify some of their roster for next season. The team has agreed to a new deal with point guard Jameer Nelson.

The 30-year-old announced the news on his Twitter account (@jameernelson) Thursday (July 5), after opting out of the final season and nearly $8 million of his contract to test free agency. Details were unknown at press time.

The Minnesota Timberwolves have made some moves. They’ve reportedly agreed to a two-year deal with guard Brandon Roy who decided to make a return following a brief retirement. According to NBA.com, the deal is worth $10.4 million. Roy picked the T-Wolves over offers from Dallas, Indiana, Golden State and Cleveland.

Under the new amnesty rules, Roy could not re-sign with Portland even if he wanted to until the 2014-15 season, because the Trail Blazers were the team that waived him last December under the new amnesty provisions of the Collective Bargaining Agreement. Portland had to pay the remaining $63 million of Roy’s salary. After no one claimed Roy off waivers, he became an unrestricted free agent.

Possibly joining Roy in Minnesota is his old Blazers teammate Nicolas Batum, who has agreed to terms on a four-year, $45 million deal with bonuses that could make the deal worth more than $50 million. The move isn’t set in stone though.

As a restricted free agent, the Blazers can match any offer made to Batum. But his agent told the Associated Press on Thursday night that Batum is hoping Portland doesn’t match Minnesota’s offer or executes a sign and trade to get him to his preferred destination.

After trading Nash, the Phoenix Suns has agreed to a four-year deal with free agent point guard Goran Dragic, worth $30 million contract with the final year a player option.

And finally, in Boston, while Ray Allen considers leaving, the team has added some new pieces to the roster. Celtics general manager Danny Ainge has recruited former Dallas Mavericks shooting guard Jason Terry to a three-year deal for $15 million, and has another three-year contract for forward Brandon Bass.

Stay tuned for more NBA trades…

The project was initially thought to be the hip-hop star’s fifth studio album. But a day before it’s scheduled release on July 3rd, he decided to release it for free three days later (July 6), on his 37th birthday.

Fif also announced that his official LP would come in November, and will be titled Street King Immortal.

5 is a 10-track, self-released digital album, boasting production from Focus, Hit-Boy, Trax, and Havoc. Guests includes G-Unit artist Kidd Kidd, ScHoolboy Q, Hayes and singer Brevi.

Download 5 (Murder By Numbers) now, via ThisIs50.com.

Below is a stream of the album, and its final tracklist.

1. “You Will Never Take My Crown”
2. “NY”
3. “United Nations”
4. “Business Mind” – feat. Hayes
5. “Roll The Sh**” – feat. Kidd Kidd
6. “Leave The Lights On”
7. “Money Test”
8. “Definition Of Sexy”
9. “Be My Bitch” – feat. Brevi
10. “Can I Speak To You” – feat. ScHoolboy Q

The upcoming releases boasts tumbled leather for the upper with midnight navy coating the inlays and white on the overlays. Also, a touch of Varsity red are added to the tongue and heel’s Jumpman branding, while a translucent outsole finishes things off.

The colorway was originally released in October 2000 with a retail price of $120. According to sneaker blogs, the combo of navy/white made the Air Jordan 6 one of the most sought after the release of the VI retros. Brand new pairs of the Midnight navy are nearly impossible to find these days. But if you do, they usually carry a pricetag upwards of $400.

Sneaker enthusiast can get their hands on some new pairs this Saturday, when they hit authorized retailers for $160 with sizes from men’s to infants.

The Air Jordan Retro 7 Olympic will follow later this month, dropping on July 21.

According to Bloomberg.com, the new model will have a 7- to 8-inch screen, but will not have the high-def screen the recent iPad features, a source said.

Experts expect the smaller iPad to sell for close to the Nexus 7 tablet and Amazon’s Kindle Fire, both of which have 7-inch screens and cost $199.

Rumors of an iPad mini have been circulating for months. However, with Google making its debut in the next couple weeks, Apple hopes to launch theirs by year’s end.

No details have been confirmed by Apple. A spokepersons for the electronics giant declined to comment at press time.

Stay tuned…

In the nearly 10-minute clip, Muggs talks about how he’s stacked up nearly 10-15K record collection over the years, and how it all started with his earliest musical experiences from his mom and uncle — from Jimi Hendrix, Black Sabbath, and Led Zeppelin, before getting his first taste of hip-hop through Public Enemy, RUN-DMC and LL Cool J.

During the interview, he goes through some of his collection, pulling out key records and recalls why he got each specific record and its influence on him. Muggs also explains how his evolution in producing, helped him expand his knowledge music of all genres, from blues to reggae.

In the clip, they feature follow skater Greg Green (@GregoriousBIG) for an afternoon skate session, as he shows off his skating pedigree and clothing options from Bloodbath’s summer line. Cameras follow him from parks to alleys and rooftops throughout Los Angeles.

Bloodbath’s Summer 2012 collection is available now. For more info, and for a closer look at the line, visit BloodbathProject.com.

The McLaren MP4-12C Spider is launched in volcano red, but it’s just one of 17 exterior paint finishes currently available for the 12C and 12C Spider — both also available in optional Volcano Yellow, a striking new high quality paint which features in the “Elite” range of exterior finishes, according to a press release.

The convertible boasts an impressive 0-62 mph in just 3.1 seconds, thanks to a 616-horsepower 3.8-liter twin-turbo V8 engine under the hood. Inside, it features a exclusive new interior trim developed for 2013 model. High quality semi-aniline perforated leather and Alcantara are among the options available in a variety of combinations to suit an owner’s personal taste.

It also includes a new wheel design, and “Diamond Cut” finishes for existing lightweight and super lightweight forged wheel designs may be selected for the 12C Spider, while Standard Silver or Stealth finishes are offered for all wheel designs.

The 12C Spider is available for order through 38 McLaren retailers in 22 countries across the global at the pricetag of around $265,750. Deliveries will come in November.

The Tyler Clinton-directed begins a youngster appearing in a room where he sits in a chair, while his mother enters behind him, drawing the shades and turning on the projector, so the boy can watch a random film as Yela’s song bumps loudly in the background. When the camera finally pans to see what the boy is watching, footage of violence and death are revealed. How will this effect the young boy? You have to watch to find out…

Radioactive is out now. Get your copy at Amazon.com.

According to ESPN.com, the 38-year-old was picked up in a sign-and-trade deal between the two teams, sending him to  L.A., and in return, the Suns get four draft picks — first rounders in 2013 and 2015 and second rounders in 2013 and 2014.

Reports say Nash also had offers from the New York Knicks and Toronto, among other teams, but ultimately, Kobe Bryant helped pursuade the superstar point guard to put on the purple and gold. The move keeps Nash in the hunt for an NBA title he’s yet to reach and allows him to stay close to his three children in Phoenix.

Nash will receive a three-year deal in excess of $25 million, sources tell ESPN, because the Suns ultimately agreed to sign-and-trade him to the Lakers, who was able absorb Nash via the trade exception they created by dealing Lamar Odom to the Dallas Mavericks in December.

In a statement, Nash said he approached the Suns about the deal, first receiving resistance. Fortunately, after discussions, the team reconsidered and both sides mutually agreed to move on. The team granted Nash’s request as a reward for all he’s done for the team.

“This is a tough business and the only thing constant in life is change,” he said. “After talking with (owner) Robert (Sarver) and (president of basketball operations) Lon (Babby) we’ve agreed that it’s time for both of us to move in new directions. I approached them and asked if they would be willing to do a sign and trade deal with L.A. because it is very important to me to stay near my children and family.

“They were very apprehensive and didn’t want to do it,” Nash continued. “Fortunately for me, they reconsidered. They saw that they were able to get assets for their team that will make them better, assets they would not have otherwise had and it made sense for them to do a deal that helps their team get better.”

Despite leaving a franchise he’s called home for eight seasons, Nash hopes they eventually win a title … without him.

“The Phoenix Suns are an amazing organization and fans should be excited about their future. I hope the Suns win a championship some day soon for all the amazing fans and wonderful people in the organization,” he said.

The deal was reportedly finalized by 6 pm PST. However, it can’t be officially completed until July 11, when a leaguewide moratorium on new business is lifted.

With the addition of Nash, a source close to the Lakers says the team plans to keep its core players — Bryant, Pau Gasol and Andrew Bynum — for next season. And, they are no longer trying to retain point guard Ramon Sessions, who opted out of the final year and $4.55 million of his contract to become a free agent.

The new project is produced entirely by Alabama beatmaker M16, and hosted/mixed by Alabama’s DJ Frank White. It boasts 10 original tracks, and according to Yelawolf, is just the first of a string of projects coming this year.

During an interview on Shade 45 recently, the rapper revealed that, at least, two more projects are in the works and coming before the end of the year — one being a collaborative album with Travis Barker called Psycho White, and another is the next installment of the Trunk Muzik series, entitled Trunk Muzik Returns.

Yela called the forthcoming projects the new way he plans to do things. After admitting to comprising on his debut, Radioactive, he said he’s taking it back to the basics.

“Back to Trunk Muzik,” he declared. “I’ve never been one to hold my tongue. That’s just where I’m at. So, I’m putting out music the way the f*** I wanna put it out now, and making music exactly how I want to do it.”

At press time, release dates for the forthcoming projects were unknown.

However, Heart Of Dixie is out now. Download it over at DatPiff.com.

For more on Yelawolf, including tour dates, visit Slumerican.com.

Below is the final tracklist for Heart Of Dixie:

1. “Howdy”
2. “Let Me Out”
3. “Be The One”
4. “Big Nutz”
5. “White Boy Sh**”
6. “F*** Me”
7. “Sobriety Sucks”
8. “Out My Face”
9. “Father’s Day”
10. “Wrap Song”

Late Wednesday (July 3), the young singer addressed the situation, writing: “What i’m about to post is for anyone who cares to read. it was intended to fill the thank you’s section in my album credits, but with all the rumors going round.. i figured it’d be good to clarify..”

Ocean followed shortly after with a lengthy letter, in which he tells the story of his first love … with a man.

“Four summers ago, I met somebody. I was 19 years old. He was too,” he writes.

“We spent that summer, and the summer after, together. Everyday almost. And on the days we were together, time would glide. Most of the day I’d see him, and his smile.

“Sleep I would often share with him. By the time I realized I was in love, it was malignant. It was hopeless. There was no escaping, no negotiating to the women I had been with, the ones I cared for and thought I was in love with,” Ocean continued.

Although the romance didn’t last, Ocean says he grew from it, wrote at least two albums worth of material from it, and it gave him a new respect for life.

In the end, it made him feel free: “I don’t have any secrets I need kept anymore … I feel like a free man.”

With the swirling rumors of gay and bisexuality in hip-hop, it’s brave for Ocean to take a stand and come out.

Ocean’s Odd Future bandmate, Tyler The Creator, responded sometime after the singer posted the letter, expressing how proud he was. ”My Big Brother Finally F***ing Did That. Proud Of That N***a Cause I Know That Sh** Is Difficult Or Whatever,” he tweeted (@f***tyler).

In addition to the revelation, Ocean is expected to sing about his experiences about his first love in his upcoming debut, Channel Orange.

Ocean has been overseas, previewing the album for press, which sparked the rumors surrounding his sexuality.

Just after 7 p.m. ET Tuesday, the 28-year-old All-Star tweeted (@DeronWilliams), “Made a very difficult decision today …,” accompanied by a photo of the Nets’ logo.

ESPN.com confirmed his tweet, reporting that Williams’ contract will be worth $98 million over five years. He chose the Nets over the Dallas Mavericks who could only offer a max deal of four years and $75 million, based on the rules outlined in the collective bargaining agreement.

Williams previously said he is willing to re-sign with the Nets, but only if they could place the right pieces around him to give him the best shot at winning a title.

The team has done just that this off-season. So far, they’ve re-signed forward Gerald Wallace, made a trade this week for shooting guard Joe Johnson, reached a verbal agreement with Bosnian forward Mirza Teletovic, and executed a sign-and-trade for rebounding machine, Reggie Evans.

However, all deals are verbal at this point, because no moves can be made official until July 11.

Another possibility is the addition of Orlando Magic center Dwight Howard, who the Nets are currently pursuing.

Howard already said he wants a trade to the Nets, and reports say Brooklyn is offering up Brook Lopez, Kris Humphries, MarShon Brooks and the Nets’ first-round picks in 2013, 2015 and 2017 to make it happen.

At press time, movement on the trade was unknown.

If the blockbuster deal doesn’t go through, the Nets are sure to make resigning Lopez a priority.

Williams had previously said that he enjoys living in Manhattan with his family, and also enjoys the marketing opportunities as well.

Before being traded to the Nets during the 2010-11 season, he spent six seasons with the Utah Jazz where he was unable to make the Finals.

However, Jacob hit a speed bump a few years ago, when he was sent to prison for money laundering, as a part of the massive BMF bust. Today, there’s a million Jacob’s. But, the man is still very much in business, and still demands attention.

Jacob has been away from the scene for a minute, but he’s back. He sat down with Jay-Z’s Life+Times blog for an interview at his New York City store. In the clip, he discusses the inspiration behind his jewelry, how he got started, and shows off a fully iced watch.

Unveiled at their Facebook page, the collection consists of caps worn by NFL players while on the sideline during regular season and postseason game.

New Era became the exclusive and official headwear supplier for the NFL in April, providing all sideline, locker room, NFL Draft Day and Super Bowl caps as well as having rights for fan headwear worldwide.

“This collection is built for the hot days in September and the frigid evenings in December. For over 90 years, New Era has been providing athletes and fans with high quality products,” said Christopher H. Koch, New Era CEO. “We’re thrilled to bring our first ever NFL On-Field collection with a unique combination of style, comfort and technology to the NFL sidelines.”

The 2012 NFL Sideline collection drops July 12, and will be available at New Era Flagship stores and authorized retailers, as well as online at NewEraCap.com and NFLShop.com.

In addition to 59FIFTY cap, knits, headbands and 59FIFTY Dog Ears will be available when NEw Era releases the NFL Cold Weather Collection later in the season.

Rastaclat means “cloth of a righteous man/woman”, but their main focus is to spread “positive vibrations” through their products around the world.

The bracelets are made with a braided cloth, held together by metal tubing and tips. For the summer, the brand delivers a slew of colorways: Tiffany, Gucci Green, Merlot and Kingston, as well as NBA-inspired options such as the Black Rose, the Knickerbocker, the NOLA, and Purp’ N Yellow, among others.

Each bracelet retails for $9.99, and is currently available at select retailers worldwide, and online at Rastaclat.com.

The Dylan Brown-directed movie follows the story of how the school’s valedictorian (Devin, played by Wiz) and 15-year senior (Mac, played by Snoop) bond via “nature’s best offering” to help each other out.

The film also features Mike Epps, Andy Milonakis, Teairra Mari, Luenell and Mystikal as the voice of “Slow Burn”, as well as cameo appearances by Far East Movement, Affion Crocket and more.

Mac & Devin Go To High School is available now on DVD and Blu-Ray. Get your copy now at Amazon.com.

Since his first shoe in 2005, each sneaker in the skateboarding star’s lineage has been tailor-made with insights from Paul himself to create the ultimate modern skateboarding shoe. The VI is no different.

It is comprised of lightweight cushioning of Lunarlon to help keep skaters’ feet protected from impact without sacrificing any of the direct connection with the board; the upper boasts extremely durable suede with TPU backing, making it last longer; and the custom Diamond Flex grooves in the outsole enhance both traction and overall flexibility for unequaled skateboarding performance.

Ironically, on the same day the P-Rod VI hit stores, Paul clamied the gold in the XGames Skateboard Street competion with a best score of 86.00. It was his fourth XGames gold medal.

The Nike Paul Rodgriuez VI retails for $90, and comes multiple colorways. It’s currently available at select retailers and skate shops.

While the team is reportedly in talks for Dwight Howard, they made a move just recently bring All-Star guard Joe Johnson to the newly located team.

According to ESPN.com, the Nets have come to terms with the Atlanta Hawks on a multi-player trade that brings Johnson to the team in exchange for several players with expiring contracts.

Currently, it’s just a handshake agreement, following talks between the teams over the weekend, while officials from the Dallas Mavericks were meeting face-to-face in New York with Nets star Deron Williams, the biggest free agent this summer.

As it stands, the deal would have the Nets sending the expiring contracts of Jordan Farmar, Johan Petro, Anthony Morrow and Jordan Williams, along with DeShawn Stevenson (via sign-and-trade) and a future first-round pick (lottery-protected in 2013 via Houston), to Atlanta in exchange for Johnson.

After coming to terms with the Johnson deal, the Nets reportedly sat with Williams to discuss the possibility of his return. He is expected to make a decision before July 4th.

As far as Howard, ESPN.com reports that the Nets have discussed a possibly trade scenerio that would send the Orlando star to Brooklyn for Brook Lopez, Kris Humphries, MarShon Brooks and the Nets’ first-round picks in 2013, 2015 and 2017. Lopez and Humphries, who are both free agents, would go to Orlando in sign-and-trade deals. Stay tuned…

In other trade news, the Hawks also sent off forward Marvin Williams on Monday (July 2) to the Utah Jazz for point guard Devin Harris.

While terms of the deal were not disclosed, as of press time, a source tells the Los Angeles Times that Beats — known mostly for their line of Beats by Dr. Dre headphones — paid less than $10 million for MOG, a streaming music service boasting around 500,000 registered users.

“[Beats] was never about just headphones,” Luke Wood, Beats Electronics’ President and COO, said. “We’ve … expanded the Beats mission to every other link in the music experience chain — speakers, mobile phones, personal computers and automobile sound systems. With MOG, we are adding the best music service to the Beats portfolio for the first truly end-to-end music experience. With their talent and technology, the possibilities around future innovation are endless.”

Wood added that, despite the acquisition, MOG will continue to operate MOG as a stand-alone music service. However, the company plans to explore options in integrating with Beats.

MOG Chief Executive David Hyman will continue to head the company, while reporting to Wood and Jimmy Iovine.

“We’re thrilled to be joining forces with Beats, a company that’s committed at the highest level to the experience surrounding music delivery; the fit feels perfectly natural,” said MOG’s Hyman. “MOG subscribers can expect continued excellence from the best music service in the market, and we look forward to putting premium music experiences in the hands of millions of music lovers everywhere.”

Stay tuned for further info…

The new season keeps with Acrylick’s long-standing theme, which is based around music, art and philosophy; and every new design carries a message around these elements.

As seen in the photos, the summer collection boasts a slew of new graphic tees, and tanktops for both men and women. From the A-Side tee, playing on the Los Angeles Lakers logo, to the Support Locals tee, Acrylick offers at least 12 options to pick up in various colorways.

Take a look at the gallery, and if you see anything you like, the Summer 2012 collection is available now at authorized retailers and online at Acrylick.net.

The Alcon is a deconstructed version of the Alomar silhouette. The slimmed-down, narrowed-up update to the Chukka-styled high top will drop in (Camo) Rock and (Work Boot) Brown styles, coming this month.

A release date was unknown at press time. For more info, visit Vans.com/OTW.